Citi analyst Ashwin Shirvaikar says news of Alex Chriss being the next CEO of PayPal “lifts a key overhang and checks the boxes investors were looking.” However, the gap between revenue growth and transaction margin dollar growth had already supplanted the CEO decision as the primary issue for PayPal shares, the analyst tells investors in a research note. The firm views the announcement as a “modest positive” but says the controversy in PayPal should continue. It keeps a Buy rating on the shares with a $100 price target.
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