PayPal (PYPL) PT Raised to $47 at Credit Suisse; Results Just 'Ok' But Visability Increases Conviction

October 21, 2016 9:26 AM EDT
Get Alerts PYPL Hot Sheet
Price: $41.60 +0.10%

Rating Summary:
    29 Buy, 15 Hold, 2 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 0 | Down: 0 | New: 0
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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."

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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