Fly News Breaks for November 11, 2019
Nov 11, 2019 | 08:18 EDT
Morgan Stanley analyst James Faucette said he came away from his investor meeting with Amit Jhawar, the General Manager of PayPal's Venmo unit, with greater visibility into the monetization strategy and a better sense of the value of how the individual Venmo and PayPal brands work together. Additionally, his concerns of Venmo's cannibalization of PayPal are "somewhat alleviated," the analyst said. Following the meeting, Faucette said he now has more confidence that the company is "well on its way" to making Venmo a contributor to earnings, though he added that Venmo monetization is not a meaningful part of his base and bull case theses on PayPal. Faucette keeps an Overweight rating and $129 price target on PayPal shares.
News For PYPL From the Last 2 Days
Dec 5, 2019 | 05:35 EST
Compass Point initiated coverage of PayPal with a Buy rating and $120 price target.