- Barclays downgraded PYPL to Underweight
- Price target cut to $53 from $56
Barclays downgraded PayPal to Underweight, cutting the price target to $53 from $56. Analyst Nik Cremo said Q3's EPS beat masked weakness in core branded checkout, which grew just 1% FX-neutral and was flat excluding Venmo. The Q4 growth outlook of 1%-2% is fueling market-share loss concerns.
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