PayPal (PYPL) PT Raised to $81 at BTIG Following Strong 3Q
BTIG raised its price target on PayPal (NASDAQ: PYPL) to $81.00 (from $70.00) while maintaining a Buy rating following the company's strong 3Q report. The report featured another beat-and-raise as well as acceleration in the growth of processing volume – particularly on the all-important mobile front – transactions and user additions.
PYPL raised its full-year 2017 revenue and earnings guidance for the third time in as many quarters. Management said they expect revenue to grow by 20-210% on an FX-neutral basis (up from 19-20%) to a range of $12.920-$12.980bn (up from $12.775- $12.875bn).