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Paypal: Oddo reduces target price

( - Oddo BHF maintains its "outperform" rating on PayPal, although has cut its corresponding target price from 380 dollars to 340 dollars, following the payment solutions group's quarterly publication, when the group reduced its guidance for 2021.

However, the broker points out that management considers its expectations for Q4 and 2022 to be "conservative" and it deems the publication of an in-line Q3 to be "reassuring", while many e-commerce players have disappointed.

Oddo also points to the very positive items in this publication; particularly the Venmo/Amazon partnership, and considers that the the share price's fall since its peak in July (-26%) seems exaggerated and offers an attractive entry opportunity for investor regarding its valuation.

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