Guggenheim analyst Jeff Cantwell upgraded PayPal Holdings to Neutral from Sell without a price target. The 11% pullback since July 26 has brought the stock below the analyst's previous price target of $104. The current share level better reflects PayPal's fair value, Cantwell tells investors in a research note. The analyst, who attributes increasing macro uncertainty for the recent selloff, sees a more balanced risk/reward at current share levels.

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.