PayPal (PYPL) PT Raised to $47 at Credit Suisse; Results Just 'Ok' But Visability Increases Conviction
- Energy weighs on S&P, Dow; techs boost Nasdaq
- Equinix (EQIX) Announces $3.6B Acquisition of Data Center Portfolio from Verzion (VZ)
- Trump Wants to Cancel New Air Force One Order with Boeing (BA)
- Roper Industries (ROP) to acquire Deltek in $2.8B Deal
- GoDaddy (GDDY) to Acquire Host Europe Group in ~$1.8B Deal
Get daily under-the-radar research with StreetInsider.com's Stealth Growth Insider Get your 2-Wk Free Trial here.
Credit Suisse analyst Paul Condra reiterated an Outperform rating and raised his price target on PayPal (NASDAQ: PYPL) to $47.00 (from $43.00) following 'ok' results, but visibility strengthens conviction.
Condra commented, "The quarter wasn’t great, but it was good enough. Management did not raise its outlook, but is aiming toward the high end of prior guidance. The take rate continues to drop, but volume and transaction growth continue to surprise to the upside. Transaction expenses and loss provisions keep creeping up, but are offset by strong control on operating expenses."
Shares of PayPal closed at $40.09 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Cowen Downgrades Nike (NKE) to Neutral; Sees Lower Guidance
- Envision Healthcare (EVHC): Cutting PT But Staying Bullish - Jefferies
- Despite OLED and GM Concerns, All Bodes Well for Apple (AAPL) iPhone 8 Super Cycle - Credit Suisse
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT Change
Related EntitiesCredit Suisse
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!