BMO Capital assumed coverage of PayPal with a Market Perform rating and $65 price target. While the shares have de-rated to essentially an all-time low valuation multiple, it will be challenging for PayPal’s stock to re-rate without a meaningful acceleration in gross profit growth, the analyst tells investors in a research note. The firm anticipates mid-single-digit growth in 2024 and 2025, below the consensus at mid-to-high single-digit growth.
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