PayPal's (PYPL) Buy Rating Reiterated at Deutsche Bank
Get Alerts PYPL Hot Sheet
Rating Summary:
28 Buy, 31 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 12 | New: 9
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Deutsche Bank earlier reiterated a Buy rating on PayPal (NASDAQ: PYPL) with a price target of $44. Analyst Bryan Keane noted share gains and strong secular tailwinds, along with its competitive edge over Apple Pay browser payments.
"In our view, PYPL shares have come under pressure recently driven primarily by competition, potential outcomes with the networks, and of course the looming impact of Brexit. Despite the well anticipated move of AAPL in browser, we continue to believe PYPL’s unique merchant solution stands up well to competition and PYPL will be one of the major digital winners," said Keane.
"Recent data continues to show strong e/mCommerce volumes and we believe One Touch continues to take market share. Additionally, we looked into some scenario analysis for any network/ PYPL agreement and see a scenario where PYPL exchanges data and less ACH steering in return for lower interchange (potentially offsetting the impact entirely). Finally, Brexit will likely cause a slowdown in UK payment volumes and potentially beyond, but the secular trend towards digital payments and share gains should help PYPL deliver robust volumes for the foreseeable future," added the analyst.
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 $34.20 yesterday.
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