BofA Securities Starts PayPay Corp (PAYP) at Buy

BofA Securities analyst Yoshitaka Nagao initiates coverage on PayPay Corp (NASDAQ: PAYP) with a Buy rating and a price target of $26.00.

The analyst comments: "We initiate coverage with a Buy rating and a price objective (PO) of $26. PayPay is evolving into Japan’s largest digital finance platform, supported by the long-term structural shift toward cashless payments, and has built a network of 70mn users and more than 7mn merchant locations nationwide. We derive our PO by applying a 27x P/E multiple to our FY3/28 EPS estimate of $0.96 (¥148). The multiple reflects a 40% premium to the FY27 average P/E of 19x for three Western-centric fintech peers. In our view, PayPay is now nearing a clear inflection point, transitioning from the end of the adoption phase to the beginning of a profit expansion phase."

For an analyst ratings summary and ratings history on PayPay Corp click here. For more ratings news on PayPay Corp click here.

Shares of PayPay Corp closed at $21.02 yesterday.

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