Credit Suisse slashed its price target for PayPal Holdings Inc to $155 from $190 (55.5 percent upside) and reiterated Outperform.
The re-rating followed model updates and increased levels of uncertainty stemming from multiple factors.
The factors included CFO departure, inflationary pressures on low-income consumers, discretionary spending, supply chain impacts, and elevated user churn.
PayPal’s FY 2022 guidance calling for +15-17 percent revenue growth was not overly conservative amid persistent inflationary pressures on low-income consumers, the risk to discretionary spending in general, and China’s outbound cross-border and other supply chains impacts.
By Anusuya Lahiri 
© 2021 The Epoch Times. The Epoch Times does not provide investment advice. All rights reserved.
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