Mizuho Downgrades PayPal Holdings to Neutral, Lowers Price Target to $65
Portfolio Pulse from Benzinga Newsdesk
Mizuho analyst Dan Dolev has downgraded PayPal Holdings (NASDAQ:PYPL) from Buy to Neutral and reduced the price target from $72 to $65, indicating a more cautious outlook on the company's stock.
January 16, 2024 | 11:51 am
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PayPal Holdings was downgraded by Mizuho from Buy to Neutral with a lowered price target of $65, suggesting a potential decrease in investor confidence and stock price.
Analyst downgrades typically lead to a negative short-term reaction in the stock market as they suggest a less favorable outlook on the company's future performance. The reduction in price target further implies that the analyst sees limited upside potential for the stock, which may lead to a decrease in investor confidence and a potential drop in the stock price.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100