- Believing the company's selloff is overdone and that its One Touch payment solution can drive transaction volumes above prior estimates, Stifel's Scott Devitt has upgraded PayPal (NASDAQ:PYPL) to Buy, while setting a $40 target.
- One Touch, launched on mobile in 2014 and on the Web in April, allows users to make purchases without re-entering their login data or billing/payment info. Merchants supporting the service include Overstock, Eat24, and Home Depot. PayPal is counting on One Touch and various other mobile-friendly services to keep rival platforms from the likes of Stripe, Google, and Apple at bay.
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3 weeks ago: Argus starts coverage on PayPal at Buy