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Wedbush analyst adds PayPal to 'best ideas' list, lifts price target to US$100

Moshe Katri's enthusiasm for the digital-payments company coincides with PayPal's recent acquisition spree
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PayPal recently acquired its Swedish rival iZettle and Jetlore, an AI-enabled prediction platform

Wedbush analyst Moshe Katri tacked on PayPal Holdings Inc (NASDAQ:PYPL) to the “best ideas” list Friday and lifted his price target on the stock to US$100 from US$90.

“We believe ongoing/recent monetization efforts on both consumer and merchant-facing platforms, V/MA/ banking partnerships as well as its post-eBay separation potential opportunities could potentially accelerate top-line growth, while expanding margins,” Katri wrote.

Katri’s enthusiasm for the digital payments company coincides with PayPal’s recent acquisition spree.

Read: PayPal stumps up US$2.2bn for iZettle

Last month, PayPal took over the Stockholm-based point-of-sale payments provider iZettle to widen its reach in Europe and also revealed its intentions to acquire Jetlore, an AI-enabled prediction platform.

PayPal is typically strong in the online arena, particularly on eBay (NASDAQ:EBAY) (which used to own the company) and the deal with iZettle will strengthen its presence in bricks-and-mortar establishments, particularly in Europe.

iZettle, which provides mobile card readers and offers digital payment services to small businesses, is used by almost half a million merchants.

PayPal shares are flat in early afternoon trade at US$83.74, but have risen 54% in the last year.

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