Mizuho analyst Dan Dolev raised the price target on PayPal (NASDAQ: PYPL) to $60.00 (from $50.00) while maintaining a Neutral rating.

The analyst comments "While the stock reacted positively to the print, this was a mix of low expectations and a likely offer from Stripe/PE on the stable. Let's review branded: 2% is not terrible. But (1) It is likely a reflection of stabilizing discretionary spend (see discussion below), & (2) It's a far cry from the 4-5-6% growth last year. The bigger worry is Europe as international slowdown deepens. After slowing down from 7% in 3Q to 1% in 4Q to flat in 1Q, FXN int'l rev. set a new "record" in 2Q, declining -3%. Our work shows concerning signs of market share losses in Germany, PYPL's most important market (est. 25-30% market share). While we remain on the sidelines fundamentally, we are raising PT to $60, on higher EPS, better peer multiples and a likely pending M&A offer."