B of A Securities Downgrades PayPal Holdings: Here's What You Need To Know
Portfolio Pulse from Benzinga Insights
B of A Securities has downgraded PayPal Holdings (NASDAQ:PYPL) from its previous rating to Neutral, with a new price target of $66.00, down from $77.00. Despite the downgrade, PayPal's shares have risen 3.33% in the last 24 hours to $59.85. The new price target suggests a potential upside of 10.28%. PayPal, known for its online payment solutions, had 435 million active accounts by the end of 2022 and owns the Venmo platform.
December 06, 2023 | 5:00 pm
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NEUTRAL IMPACT
B of A Securities downgraded PayPal Holdings to Neutral and reduced the price target from $77.00 to $66.00. PayPal's stock has risen recently, but the downgrade could temper investor sentiment.
While the downgrade to Neutral reflects a more cautious view from B of A Securities, the reduction in price target to $66 still suggests a potential upside from the current trading price. This mixed signal, along with the recent share price increase, could lead to a neutral short-term impact on the stock as the market digests the news.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100