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PayPal stock: Risk-reward 'finally looks favorable' says Deutsche Bank

Published 04/19/2024, 09:26 PM
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PYPL
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In a note Friday, Deutsche Bank analysts said the risk-reward ratio for PayPal (NASDAQ:PYPL) stock finally looks favorable.

The investment bank maintained its Buy rating and $74 price target on the stock, highlighting the positives under its new management.

The investment bank stated that under the new leadership of CEO Alex Chriss, they believe the company is correctly focused on improving pricing in the unbranded business, lowering friction in branded, in order to reverse share loss, revitalizing Venmo, and potentially divesting non-core assets.

As a result, Deutsche Bank feels there could be signs of green shoot

improvements in PYPL's first quarter results, with stronger-than-expected earnings per share (EPS), better branded growth, and positive net transaction revenue growth.

"As a result, we think the setup for PYPL is more positive than it has been in some time, given that FY24 expectations have been reset and the new CEO's agenda begins to take form in FY24," the firm wrote.

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