PayPal (PYPL) PT Lowered to $322 at Rosenblatt
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Rosenblatt analyst Ken Hill lowered the price target on PayPal (NASDAQ: PYPL) to $322.00 (from $352.00) while maintaining a Buy rating.
The analyst commented, "We are lowering our 12-month PT to $322 (from $352) for Buy-rated PYPL following a mixed 3Q earnings report. EPS of $1.11 came in slightly ahead of the Visible Alpha consensus of $1.07, while revenues for the quarter fell modestly short. As for guidance, the Street's estimates are likely to be revised lower given the new 4Q guidance, which calls for EPS of ~$1.12 vs. prior consensus of $1.27. Commentary around 2022 is not likely to impress either, with high-teens revenue growth (e.g., 18%) expected for the year (vs. prior consensus of ~20%), and a couple of non-operating headwinds expected to blunt EPS growth."
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