PayPal price target lowered to $60 from $65 at Jefferies

Jefferies lowered the firm’s price target on PayPal to $60 from $65 and keeps a Hold rating on the shares. While the firm sees the potential for an improving narrative on accelerating core growth in the second half, Street estimates already embed FY24 core transaction gross profit growth of greater than 8% and the firm sees risk to that estimate, the analyst tells investors.