Bernstein upgraded PayPal to outperform, its first upgrade in three years.
After nearly three years of underperformance, PayPal is finally on track for positive momentum, according to Bernstein. Analyst Harshita Rawat upgraded shares to outperform, the first upgrade following a downgrade to market perform in 2021. She also raised her price target by $7 to $78, indicating 22% upside potential from Wednesday's close.
mountain PayPal shares over the last 5 years Now, Rawat is encouraged by improving gross profit trends and product momentum under the company's new management. "PayPal also presents strategic optionality with many waterfront properties on ecommerce/digital commerce," Rawat wrote in a Wednesday note. She also said the stock's valuation is attractive at current levels.
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