PayPal (PYPL) PT Raised to $66 at Barclays

Barclays raised its price target on PayPal (NASDAQ: PYPL) to $66.00 (from $63.00) while maintaining a Overweight rating.

Analyst Darrin Peller believes the business partnerships are encouraging and comments "We expect contributions from recent partnerships to provide a source of upside in FY18 once they ramp. Perhaps more importantly, many of these agreements may also suggest that PYPL is increasingly being recognized as partners by certain players previously thought of as competitive threats."

FY 2017 EPS estimate rises from $1.80 to $1.83 and FY 2018 EPS estimate rises from $2.17 to $2.24.

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