PayPal Holdings Inc. (PYPL) has room to deliver a big beat on revenue and earnings for the second quarter, wrote Bank of America analyst Jason Kupferberg, "though this is widely anticipated by the Street." He raised his price objective on the stock to $215 from $194 in a Monday note to clients, while maintaining a buy rating. Kupferberg wrote that consensus numbers for PayPal's third quarter also look conservative and that the company could deliver a better-than-expected outlook as a result. "Going into the 2Q print there is the possibility that certain metrics don't have quite as much upside as some expect, which could potentially result in some profit taking," he wrote. "However, we expect any weakness in shares to be limited and short-lived, as the shareholder base has grown sturdier in recent months." PayPal shares have added 68% over the past three months as the S&P 500 has risen 17%.
-Emily Bary; 415-439-6400; AskNewswires@dowjones.com
(END) Dow Jones Newswires
July 13, 2020 11:05 ET (15:05 GMT)
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