The Fly

PayPal price target lowered to $110 from $120 at DA Davidson

DA Davidson analyst Christopher Brendler lowered the firm’s price target on PayPal to $110 from $120 but keeps a Buy rating on the shares. The company’s Q3 results were a "step back" following an encouraging performance in Q2 as several key underlying metrics deteriorated, the analyst tells investors in a research note. Brendler adds however that PayPal has "made real progress" on expenses and "credit looks great", with buy-now-pay-later business outperforming.

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