(News Bulletin 247) – Mizuho Americas reaffirms its ‘buy’ recommendation and its price target of 92 dollars on PayPal, suggesting to take advantage of a weakness in the title which has underperformed the Nasdaq by around 25 points since its quarterly results of May 8.
“Management attributed the low transaction margin to the change in mix to a higher-growth but less profitable Braintree,” the broker said in its note on the payment solutions group.
While investors remain concerned that price compression is also in play, Mizuho for his part believes that ‘concerns about widespread discounts and price compression are grossly exaggerated’.
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