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PayPal up nearly 4% post-earnings; bull boosts price target

Published 10/20/2017, 07:46 AM
Updated 10/20/2017, 07:46 AM
© Reuters.  PayPal up nearly 4% post-earnings; bull boosts price target
  • Not only did PayPal (NASDAQ:PYPL) show no signs its platform growth is slowing, but the growth rate is actually increasing as network effects take hold, says BTIG's Mark Palmer.
  • Then there are initiatives like Venmo and One Touch which are still in the very early innings. There's also $7.1B in cash which could be used to fund M&A, fueling what could be daunting global potential
  • He lifts his price target to $81 from $70.
  • Shares are higher by 3.6% premarket to $69.70.
  • Previously: PayPal up 3.8% after topping estimates (Oct. 19)
  • Previously: PayPal beats by $0.03, beats on revenue (Oct. 19)
  • Now read: PayPal First Look: No End To The Upcycle In Sight


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