PayPal (PYPL): Paypal Reiterates Top Pick - Nomura
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Nomura Securities analyst, Bill Carcache, reiterated his Buy rating on shares PayPal (NASDAQ: PYPL) and reiterated the company as his top pick.
A number of large investors remain notably absent from PYPL’s list of owners but the analyst expects that to change over time as investors gain greater comfort with the PYPL story. However, the analyst believes incremental TPV growth will exceed the increase in transaction expenses and this should remove the skepticism in time.
PYPL has yet to announce any partnerships with issuers so it could take several quarters before we see evidence that its new strategy will prove successful. Until then, investors will continue to debate what the elimination of steering will mean for PYPL’s transaction margins and EPS outlook.
No change to the price target of $54.
Shares of PayPal closed at $40.78 yesterday.
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