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PayPal (PYPL): Apple Pay in Safari May Be The Last Straw - Piper Jaffray

June 21, 2016 8:06 AM EDT
Get Alerts PYPL Hot Sheet
Price: $66.99 +0.63%

Rating Summary:
    28 Buy, 31 Hold, 2 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 0 | Down: 0 | New: 0
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Piper Jaffray analyst, Gene Munster, believes that Apple Pay's inclusion on desktop and mobile Safari browser expected in fall '16, along with a relatively simple integration process for merchants, has raised the analyst's confidence in Apple, Inc's (NASDAQ: AAPL) ability to sway consumer's digital payments habits. We believe ~30% of PayPal's TPV is done on Apple OS devices and that by the holiday season 30%-40% of the internet top 100 retailers will have Apple Pay enabled, which would represent crossover of 45%-55% of PayPal's (NASDAQ: PYPL) top 100 acceptance.

No change to Underweight rating or $34 price target.

Piper Jaffray Underweight PayPal (NASDAQ: PYPL) price target of $34.00

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 $36.86 yesterday.



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Piper Jaffray, Gene Munster