PayPal Climbs On Upgrade, 'Never Going To Look Cheap Again'

PayPal Holdings (PYPL) is likely to weather the renegotiation of its contract with former parent eBay (EBAY) better than investors expect, an analyst says, which upgraded the payment processor to overweight on Wednesday.

XAutoplay: On | OffMorgan Stanley's James Faucette upped his price target on PayPal to 76 from 62. Shares in PayPal rose 2.6% to 67.74 on the stock market today.

"PayPal's probably never going to look cheap again," Faucette said in a note to clients. "With PayPal...

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