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Fly News Breaks for January 31, 2020
PYPL
Jan 31, 2020 | 07:20 EDT
Guggenheim analyst Jeff Cantwell upgraded PayPal to Buy from Neutral with a $133 price target, stating that the "rather muted" reaction to the company's Q4 results and updated outlook has created an opportunity for investors. He sees the Honey acquisition as a significant positive, as it adds Honey's 17M monthly average users to the PayPal ecosystem and moves PayPal up the consumer purchase funnel and expands its value proposition "beyond payments." He also sees a strengthening outlook in PayPal's underlying core business, Cantwell tells investors.
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