Investing.com – PayPal Holdings stock (NASDAQ:PYPL) traded nearly 2% higher in Monday’s premarket following an upgrade to ‘outperform’ by BMO on valuation, according to StreetInsider.
Analyst James Fotheringham sees the stock at $224, down from $278 to reflect the multiple compression that took place in 2021.
The new target is around 19% higher than the stock’s Friday close of $188.58. The stock lost over 19% in 2021 while the S&P 500 rose nearly 27%.
Fotheringham believes payment stocks are set up constructively for this year and expects PayPal to hold potential of a 21% annual organic revenue growth. He also noted that tax loss selling is done and investors are focused on more normalized 2023 estimates for valuation.
Besides PayPal, the brokerage also recommended buying Nuvei (TSX:NVEI) and Global Payments (NYSE:GPN) in the sector. Mastercard (NYSE:MA) and Visa (NYSE:V) are also favored ‘buys’ as core holdings, according to the analyst.
© investing. Copyright and all rights therein are retained by authors.
風險提示：本文所述僅代表作者個人觀點，不代表 Followme 的官方立場。Followme 不對內容的準確性、完整性或可靠性作出任何保證，對於基於該內容所採取的任何行為，不承擔任何責任，除非另有書面明確說明。
暫無評論，立馬搶沙發