PayPal price target lowered to $77 from $86 at Macquarie

Macquarie lowered the firm’s price target on PayPal to $77 from $86 and keeps an Outperform rating on the shares. The company’s Q3 results were mixed as credit pressures and unbranded mix growth continue to weigh on transaction margin, while branded checkout volumes saw a lower-than-expected trend, the analyst tells investors in a research note.