This Just In: PayPal Stock Upgraded
Every day, Wall Street analysts upgrade some stocks, downgrade others, and "initiate coverage" on a few more. But do these analysts even know what they're talking about? Today, we're taking one high-profile Wall Street pick and putting it under the microscope...
PayPal (NASDAQ: PYPL) stock investors are having a great 2017 -- and a great October, too. So far this year, shares of the online payments processor and former arm of eBay (NASDAQ: EBAY) are up 59%, and far outperforming the S&P 500. What's more, this run looks likely to continue -- at least according to Wall Street analysts.
The month of October is still young, but already, StreetInsider.com reports that no fewer than five separate analysts have published positive reports on PayPal stock. Buckingham Research initiated the stock at buy, while Deutsche Bank, Guggenheim, and Merrill Lynch all raised their price targets ahead of PayPal's Q3 earnings report due out next week. Not to be left out, this morning, Morgan Stanley issued an upgrade on PayPal stock.
Source: Fool.com