PayPal price target raised to $96 from $80 at Canaccord

Canaccord raised the firm’s price target on PayPal (PYPL) to $96 from $80 and keeps a Buy rating on the shares. The firm said Q3 marked another solid quarter of progress in Paypal’s business realignment with new CEO Alex Chriss at the helm now for about a year. Some of the progress has been including a new strategy for pricing unbranded checkout, a more streamlined branded checkout experience, expanding TAM beyond ecommerce, and more monetization for Venmo.