BMO Capital raised the firm’s price target on PayPal to $65 from $64 but keeps a Market Perform rating on the shares after its Q1 earnings miss. The firm remains concerned that it will prove challenging for the company to meaningfully accelerate gross profit growth over the medium term. While BMO sees some evidence of new initiatives providing incremental traction, this has yet to translate into noticeably stronger gross profit growth, the analyst tells investors in a research note.
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