Lowered margin growth expectations push PayPal shares lower despite Q1 beat
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Credit Suisse Downgrades PayPal (PYPL) to Neutral
May 9, 2023 8:25 AM EDTCredit Suisse analyst Timothy Chiodo downgraded PayPal (NASDAQ: PYPL) from Outperform to Neutral with a price target of $85.00 (from $100.00).
The analyst comments "FY 2023 revenue & EPS higher, driven by Braintree strength and further cost reductions: PayPal delivered a ~200bps acceleration in Branded Checkout growth in Q1 relative to Q4 levels, which would suggest at least stable trends vs. industry data points (e.g., Shopify GMV... More
