Street View: PayPal's growth outlook in focus as 'transition year' nears end
** PayPal PYPL.O forecast Q4 revenue below estimates on Tuesday as the digital payments company shifts focus from aggressive growth to high-margin businesses
** At least eight brokerages raise PTs on stock after results
"TURNAROUND PROGRESS BALANCED BY UNCERTAINTY"
** TD Cowen ("hold", PT: $78) says PYPL showed early progress on key initiatives, but major questions persist on its pricing strategy and growth in 2025
** Canaccord Genuity ("buy", PT: $96) says Q3 marked another solid quarter of progress in PayPal's business realignment and turnaround
** J.P. Morgan ("overweight", PT: $90) says execution on cost efficiencies drove beat-and-raise quarter, with investors focused on FY25 as return to top-line growth
** RBC Capital Markets ("outperform", PT: $89) says quarter shows continued progress on turnaround and focus remains on driving profitable growth
** Jefferies ("hold", PT: $80) says outlook implied transaction margin deceleration in Q4, while management's forecast for holiday season was "conservative"
** Morningstar (Fair value estimate: $104) says Q3 results were somewhat mixed, but adds management has been clear it is focused on more profitable growth
Reporting by Manya Saini in Bengaluru
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