PayPal shares are trading lower after Mizuho downgraded the stock from Buy to Neutral and lowered its price target from $72 to $65.
Portfolio Pulse from Benzinga Newsdesk
PayPal's stock (PYPL) trades lower following a downgrade by Mizuho from Buy to Neutral, with a reduced price target from $72 to $65.
January 16, 2024 | 4:38 pm
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NEGATIVE IMPACT
PayPal's stock price is expected to experience short-term negative pressure due to Mizuho's downgrade and lowered price target.
Analyst downgrades typically lead to a negative perception among investors, potentially causing a sell-off. The reduction in price target further suggests a lower expected valuation for PayPal, which can result in a decrease in stock price as market sentiment adjusts to the new analyst outlook.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100