Monness Crespi raised the firm’s price target on PayPal (PYPL) to $120 from $110 and keeps a Buy rating on the shares ahead of Q4 results as the firm believes the inputs to transaction margin dollar acceleration are in place, even if that growth is potentially non-linear. The firm would be buyers on weakness tied to news regarding X ramping up a Venmo like competitor as “the tenets of our thesis remain unencumbered” and the firm continues to see a favorable combination of multiple re-rating and estimate revisions to the upside, the analyst tells investors.
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