PayPal(US:PYPL) Ge Long Hui·2025-12-12 02:40Core Viewpoint - Bank of America downgraded PayPal's rating from "Buy" to "Neutral" and reduced the target price from $93 to $68 due to slower-than-expected recovery in its branded checkout business [1] Group 1: Business Performance - PayPal's projected branded checkout transaction volume for Q4 is expected to grow only about 3% year-over-year, which is lower than the 5% growth in Q3 and represents the weakest performance in at least three years [1] - The anticipated momentum in November, typically strong due to the holiday season, appears to be lackluster [1] Group 2: Market Concerns - The sluggish growth in branded checkout may heighten market concerns regarding PayPal's loss of market share, especially as its transaction volume growth lags behind the overall e-commerce industry [1] Group 3: Financial Forecasts - Analysts have lowered earnings forecasts for 2026 and 2027 by 2% and 4% respectively, indicating that 2026 will be a year requiring significant reinvestment, while 2027 may continue to face high costs to stimulate growth [1]