National Bank AG cuts PayPal (NASDAQ:PYPL) to a Sell rating on a call tied to valuation concerns.
Analyst Markus Glockenmeier had PayPal pegged at Buy previously. He is now one of only three out of 48 analysts covering PayPal with a bearish view (31 Buys, 14 Holds, 3 Sells), according to Bloomberg.
Glockenmeier's note to investors recommends that they take profits (via Google Translate).
PYPL -1.15% premarket to $42.40.