Canaccord raised the firm’s price target on PayPal (PYPL) to $100 from $96 and keeps a Buy rating on the shares. The firm said Q3 marked another quarter of steady progress at PayPal on what has now been a two-year journey in business refocus under CEO Alex Chriss and his team. Q3 operational highlights included unbranded PSP business further turning the corner to being a gross margin dollar contributor, BNPL continuing outsized growth, and better Venmo P&L contribution.
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