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Fly News Breaks for November 21, 2019
PYPL
Nov 21, 2019 | 08:45 EDT
After PayPal announced an agreement to acquire online shopping and rewards platform operator Honey for $4B in cash, Jefferies analyst John Hecht said he views the deal favorably from a strategic perspective as he believes Honey should boost both the consumer and merchant sides of the network with increased engagement. Honey's services are a natural complement to PayPal's existing offerings to consumers in addition to bringing PayPal higher "up the funnel" in the buying process, contends Hecht, who keeps a Buy rating on PayPal shares.
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