Atlantic Equities analyst Kunaal Malde downgraded PayPal to Neutral from Overweight with a $72 price target. The analyst previously expected saes growth stabilization, resilient earnings growth and a below-market valuation to enable PayPal’s stock to outperform. However, these factors have been more than offset by ongoing competition concerns, the analyst tells investors in a research note. Atlantic sees “no quick fixes” to PayPal’s branded market share or transaction margins. This makes it tough to see what actions will reignite investor interest in the stock near-term, even from new leadership, writes the firm.
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