KeyBanc analyst Josh Beck downgraded PayPal to Sector Weight from Overweight with a fair value estimate of $80, down from $100. The analyst says sustained share gain of the branded PayPal is likely to be increasingly difficult as the company is facing intensified competition from Apple Pay, Shop Pay and buy now pay later. The accelerated pace of industry change creates market-related fundamental uncertainty for PayPal, Beck tells investors in a research note.
Published first on TheFly
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