Morgan Stanley Rates PayPal, Says Its Growth Dependent On E-Commerce Growth Normalization – Benzinga – Benzinga
Summary
Morgan Stanley analyst James Faucette thinks e-commerce growth probably needs to normalize before investors can turn positive on PayPal Holdings, Inc PYPL.
Faucette had an Over Weight with a price target of $129.
Data from the MS Proprietary acceptance tracker supports his view that PYPL’s wide acceptance lead and growing merchant share (especially among large sellers) can help it keep growing faster than e-commerce.
Also Read: Wells Fargo Sees Tricky Q2 For PayPal Amid Subdued Broade…….
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- Morgan Stanley analyst James Faucette thinks e-commerce progress in all probability Should normalize earlier than buyers can flip constructive on PayPal Holdings, Inc PYPL.
- Faucette had an Over Weight with a worth goal of $129.
- Data from the MS Proprietary acceptance tracker assists his view that PYPL’s broad acceptance lead and rising service provider share (particularly amongst huge sellers) Might assist it Proceed to develop faster than e-commerce.
- Additionally Study: Wells Fargo Sees Robust Q2 For PayPal Amid Subdued Broader E-Commerce Growth, Inflation; Cuts Price Target By 16%
- He notes that Pay with Venmo acceptance stood at simply 3% by rely in 2Q.
- However, Faucette provides that publicity by way of Amazon.com Inc AMZN, the place it ought to Discover your self to be out there in 2H, and its attain to 85 million youthful consumers ought to assist Venmo’s further enlargement amongst service providers.
- Faucette thinks that it in all probability Is sensible for PYPL to work in the direction of integrating completely different BNPL decisions like Affirm Holdings, Inc AFRM and Klarna into its branded look atout selection.
- Price Movement: PYPL shares commerced greater by 2.32% at $82.10 on the final look at Thursday.
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