PayPal growing Braintree at expense of Adyen, says Mizuho

Mizuho analyst Dan Dolev says PayPal (PYPL) deserves more credit for consistent growth and share gains at Braintree. Braintree’s “aggressive land-grab strategy” in the U.S. proved successful amid Adyen’s (ADYEY) first half results. It likely contributed to the sharp deceleration in Adyen’s North America revenue growth, the analyst tells investors in a research note. The firm keeps a Buy rating on PayPal with a $92 price target.