PayPal initiated with a Buy at BTIG

BTIG analyst Lance Jessurun initiated coverage of PayPal with a Buy rating and $85 price target. As one of the largest two-sided digital payments networks, PayPal “remains well-positioned to succeed” despite questions around account growth, BTIG tells investors. PayPal is exposed to high-growth digital channels and maintains a highly liquid balance sheet with a large cash balance, and has kept a strong value proposition for both consumers and merchants, says the firm, which sees an attractive risk/reward given “the recent reset” in PayPal’s share price.