UPDATE: Morgan Stanley Says Buy Any Weakness in PayPal (PYPL), PT Raised to $329
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Morgan Stanley analyst James Faucette raised the price target on PayPal (NASDAQ: PYPL) to $329.00 (from $302.00) on the belief that it can leverage its massive active customer user base and merchant acceptance lead into becoming the leading Financial Super App for the United States.
The analyst reiterated an Overweight rating, stating "While some may have been slightly disappointed by the gradual pace of margin expansion, we would buy any associated weakness as we think that the accelerated investment should be prioritized given US demographics (more than half of population is less than 35) and the current willingness of the markets to generally discount well into the future (as far as 10-30 years in the case of leading edge financial platforms). We would further welcome substantial acquisitions should opportunities arise, especially since we judge most of PayPal’s current and forecast revenue growth to be sustainable and fits well within likely future regulatory structures."
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