PayPal Holdings shares are trading lower after Bernstein downgraded the stock from Outperform to Market Perform but raised its price target from $75 to $80.
Portfolio Pulse from Benzinga Newsdesk
PayPal Holdings shares declined following a downgrade by Bernstein from Outperform to Market Perform, despite an increase in the price target from $75 to $80.
October 10, 2024 | 2:40 pm
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PayPal Holdings experienced a share price decline after Bernstein downgraded its rating from Outperform to Market Perform. However, the price target was raised from $75 to $80, indicating a mixed sentiment.
The downgrade from Outperform to Market Perform suggests a less optimistic outlook on PayPal's future performance, which typically leads to a negative short-term impact on the stock price. However, the raised price target to $80 indicates some positive expectations, creating mixed signals for investors.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100