PayPal (PYPL) PT Lowered to $75 at Jefferies

Jefferies analyst Trevor Williams lowered the price target on PayPal (NASDAQ: PYPL) to $75.00 (from $93.00) while maintaining a Hold rating.

The analyst commented, "We're a bit surprised by the magnitude of the after-hours reaction. Though a weak holiday season outlook and generally downbeat commentary on eComm into '23 likely puts a near-term ceiling on the multiple, mgmt's high degree of conviction in being able to drive $4.70+ of EPS in a wide range of revenue and TPV scenarios (highlighting the OpEx and buyback flexibility) should provide downside support in the $65-70 range (implies 14-15x P/E)."

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