PayPal price target lowered to $74 from $80 at Wells Fargo

Wells Fargo lowered the firm’s price target on PayPal (PYPL) to $74 from $80 and keeps an Equal Weight rating on the shares ahead of quarterly results. Since introducing new MT targets at February’s ID, many investors remained skeptical of management’s branded ambitions, the firm notes. Tariff implications and macro have added another wrinkle to 2025, adds Wells. For Q1, the firm suspects the Street’s +5.5% FXN branded volume growth may be aggressive, implying growth to outpace non-store sales, a reversion of a L3Y trend. That said, Venmo engagement data appears strong, which may lead to added growth from recent Pay with Venmo initiatives.