PayPal price target raised to $85 from $72 at UBS

UBS raised the firm’s price target on PayPal (PYPL) to $85 from $72 and keeps a Neutral rating on the shares. PayPal raised its FY24 guidance alongside stable mid-single digit Branded Checkout growth, the analyst tells investors in a research note. The firm has slightly greater confidence around the most important gross profit driver going forward and initial expectations for transaction margin dollars growth in 2025.