PayPal price target raised to $85 from $75 at Macquarie

Macquarie raised the firm’s price target on PayPal to $85 from $75 and keeps an Outperform rating on the shares following the Q1 beat. The Q1 report is indicative that PayPal is “working towards transformation,” the analyst tells investors in a research note. The firm says the company’s growth and potential upside risk “hinge on the execution of the turnaround.”