Piper Sandler analyst Kevin Barker keeps a Neutral rating on PayPal (PYPL) with a $77 price target after the company announced this appointment of Intuit (INTU) executive Alex Chriss as its next CEO. The appointment of a new CEO removes an overhang on the stock given the uncertainty surrounding who would be appointed, the analyst tells investors in a research note. In addition, the firm is “encouraged” by the appointment of Chriss “given his background in running an integral portion of a tech-focused, innovative company with a strong track record focusing on consumers and small businesses.”
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