PayPal downgraded to Underperform from Neutral at SMBC Nikko

SMBC Nikko analyst Andrew Bauch downgraded PayPal to Underperform from Neutral with a price target of $75, down from $95. At a bare minimum, the rate of PayPal’s branded share of checkout gains have slowed considerably, particularly in 2022, Bauch tells investors in a research note. The analyst believes PayPal has never been more vulnerable to branded share losses.