Mizuho Bullish on PayPal (PYPL) Amid China Activity

Mizuho Securities analyst Dan Dolev reiterated a Buy rating and $92.00 price target on PayPal (NASDAQ: PYPL), saying Temu could be the company's October suprise.

The analyst commented, "The moat of PYPL's highly profitable Branded Checkout button has been a key debate surrounding the stock. On this front, we see potentially good news coming from China that could help reinvigorate Branded Checkout growth.

Our proprietary web traffic analysis shows that Temu - an Amazon-like marketplace for discounted goods from China - is rapidly growing in popularity. PYPL is amongst its available checkout options.

Our analysis shows that Temu's share of incoming web traffic to PYPL has grown 12x Y/Y. As Temu grows in popularity, we expect it to be more meaningful to PYPL's Branded business. Buy, PT $92."

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 $64.44 yesterday.

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