PayPal price target raised to $94 from $74 at Deutsche Bank

Deutsche Bank raised the firm’s price target on PayPal to $94 from $74 and keeps a Buy rating on the shares. Following multiple quarters of improvements across the business, most notably the key metric of normalized net transaction revenue growth, the strategic priorities of PayPal CEO Alex Chriss are showing early signs of success, the analyst tells investors in a research note. The firm believes the company “has multiple avenues” to continue improving take rates and profitability through the unbranded business, adding new positive revenue streams through Fastlane and working diligently to improve Branded growth rates.