PayPal (PYPL) PT Lifted to $48 at Mizuho Following Solid Q3

October 21, 2016 8:28 AM EDT
Get Alerts PYPL Hot Sheet
Price: $38.98 --0%

Rating Summary:
    26 Buy, 15 Hold, 3 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 14 | Down: 17 | New: 12
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Mizuho Securities analyst Neil Doshi reiterated a Buy rating and lifted its price target PayPal (NASDAQ: PYPL) price target of $48.00 (from $46.00) following solid solid 3Q results with a slight miss on 4Q guidance.

Doshi commented, "We saw strength in active customer accounts, transaction growth, & engagement. Furthermore, PayPal is having very constructive discussions with issuers which should drive greater TPV over time. This, in our view, led management to increase their 3-year revenue outlook from 15% to 16%-17%. And we believe that there could be upside as PayPal offers more choices to customers and gets broader online and offline distribution. We remain buyers of the stock, and are raising our target price from $46 to $48."

The firm lowered 2017 EPS estimate from $1.80 to $1.76 as we lower our op margin assumptions for 2017.

For an analyst ratings summary and ratings history on PayPal click here. For more ratings news on PayPal click here.

Shares of PayPal closed at $40.09 yesterday.



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