BofA Merrill Lynch analyst Jason Kupferberg noted that PayPal announced that COO Bill Ready plans to leave the company at year-end, which he called "disappointing, not devastating." The news was not expected, and Wall Street had a very favorable view of Ready's leadership, so shares may trade modestly lower today, said Kupferberg, but he believes there is ample time to transition his responsibilities and that PayPal has a "deep bench" of executives. The analyst, who said no company he covers is better positioned to capitalize on the trend of payments from offline to online/digital channels, keeps a Buy rating and $131 price target on PayPal shares.