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Fly News Breaks for March 5, 2018
EBAY, PYPL
Mar 5, 2018 | 07:30 EDT
Baird analyst Colin Sebastian said he has a less pessimistic view of PayPal's (PYPL) changing relationship with eBay (EBAY). The analyst said eBay's agreement called for them to take back control over its checkout pages causing a decline in eBay volume for PayPal. Sebastian believes the lower volume can be somewhat muted by disproportionate operating expense/fraud costs. He believes deeper marketplace integrations could drive incremental growth. Sebastian reiterated his Outperform rating and $88 price target on PayPal shares.
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