PayPal price target raised to $68 from $66 at Bernstein

Bernstein raised the firm’s price target on PayPal to $68 from $66 and keeps a Market Perform rating on the shares. In the near-term, the analyst sees some upside to estimates, primarily because of float income and also from some of the company’s profitable growth initiatives. However, Bernstein worries about accelerating share losses for PayPal’s cash cow button in its most profitable areas, especially in U.S. and UK.