As previously reported, Atlantic Equities analyst Kunaal Malde upgraded PayPal (PYPL) to Overweight from Neutral, as he believes the company’s differentiated checkout experience should enable the company to continue taking share.
PayPal’s recent analyst day highlighted the company’s ability to innovate to maintain differentiation, added Malde, who raised his price target on the stock to $99 from $84. While he sees PayPal gaining share, Malde also sees the card networks remaining reliable ways to play long-term e-commerce volume growth and keeps Overweight ratings on networks Visa (V) and Mastercard (MA), as well as on payment processor Worldpay (WP).
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