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Fly News Breaks for February 27, 2020
Feb 27, 2020 | 13:40 EDT
Stephens analyst Brett Huff noted that PayPal (PYPL) lowered its Q1 revenue guidance, citing the ongoing coronavirus impact while also pointing out that stronger performance elsewhere in the business is offsetting some of the virus impact. PayPal's pre-announcement follows a similar one from MasterCard (MA), noted Huff, who sees it as increasingly likely that Visa (V) will update guidance in the near future as well. He remains a buyers of these stocks as he thinks this is a temporary setback and he reiterates an Overweight rating on PayPal shares.