PayPal: shares continue rally after analyst's upgrade.
(CercleFinance.com) - Shares of digital payments company PayPal are up over 2% on Wednesday after Morgan Stanley upgraded the stock from "equal-weight" to "overweight".
The bank also raised its target price on the stock, from 62 dollars to 76 dollars, citing attractive and "potentially accelerating" growth.
"PayPal is among the few large companies that can deliver high-teens revenue and about 20% EPS growth with significant upside opportunities," analysts said in a note to clients.
At the same time Morgan Stanley believes the market may be overly concerned about potential negative impact of an eBay contract renegotiation.
PayPal shares rose by as much as 2.5% to 67.7 dollars this morning on the Nasdaq market. The gain extends the stock's long rally, with the share price having risen by over 70% so far this year.
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The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
The bank also raised its target price on the stock, from 62 dollars to 76 dollars, citing attractive and "potentially accelerating" growth.
"PayPal is among the few large companies that can deliver high-teens revenue and about 20% EPS growth with significant upside opportunities," analysts said in a note to clients.
At the same time Morgan Stanley believes the market may be overly concerned about potential negative impact of an eBay contract renegotiation.
PayPal shares rose by as much as 2.5% to 67.7 dollars this morning on the Nasdaq market. The gain extends the stock's long rally, with the share price having risen by over 70% so far this year.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.