A Bull Market Is Coming: 1 Magnificent Growth Stock to Buy Before It Soars 120%, According to a Wall Street Analyst

At the onset of the pandemic, PayPal Holdings (NASDAQ: PYPL) reported turbocharged growth as business closures and social distancing drove consumers online. But its momentum faded as high inflation stunted discretionary spending, so much so that management nixed its medium-term financial targets.

Many investors interpreted that as a sell signal. PayPal stock had already started falling in response to economic uncertainty, but the sell-off accelerated when the company revised its outlook. That downward pressure has never really abated as PayPal has seen its share price slip 14% year to date, despite strong gains across the S 500, and the stock now trades 80% below its record high.

Many Wall Street analysts see that as an opportunity. PayPal has a consensus buy rating, and its median 12-month price target of $69.83 implies 14% upside from the current share price. But Morningstar analyst Brett Horn is especially bullish -- his price target of $135 per share implies 120% upside for PayPal shareholders.

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Source Fool.com