As previously reported, Axiom analyst Victor Anthony upgraded eBay (EBAY) to Buy from Hold ahead of the company's upcoming separation of its PayPal (PYPL) business. Anthony noted that eBay has been stuck within a range of $55-$60 per share this year, but he sees eBay comps getting easier in the second half of the fiscal year and said he is now optimistic that PayPal can weather competitive threats. Both companies should be well-capitalized after the spin and both are likely to be acquisition candidates in the years following the separation, Anthony added. The firm's sum-of-the-parts analysis yields a $70 per share price target on eBay, which closed trading Friday at $59.72.

DMG Blockchain Solutions (DMGGF) announced a strategic collaboration with PayPal (PYPL) and Energy Web to explore ways to decarbonize the Bitcoin blockchain. The companies are working together on developing methods for transacting on the Bitcoin network which would expand its use as a carbon neutral payment rail, thus advancing its application. DMG, Energy Web, and PayPal are working together to publish a research paper, which we collectively believe will benefit users of the Bitcoin network who would like to take advantage of carbon neutral options in their transactions. PayPal, with its focus on developing its bitcoin payment rail, has been a leader in new payment technologies with the introduction of its enhanced services by integrating blockchain technology, launching the PayPal USD stablecoin with Paxos Trust Company in August 2023 for efficient transactions.