Can PayPal Go as High as This Wall Street Firm Thinks?

Upgrades

1. Paramount Global (PARA):
   • Brokerage Firm: Wells Fargo
   • Rating Change: Upgraded from Underweight to Equal Weight.
   • Price Target: Increased from $10 to $11.
   • Summary: Wells Fargo sees potential in Paramount Global, upgrading their stance on the stock from Underweight to Equal Weight, with a modest price target increase to $11. This suggests a neutral outlook with room for stability and possible growth.
2. PayPal (PYPL):
   • Brokerage Firm: Daiwa Securities
   • Rating Change: Upgraded from Underperform to Neutral.
   • Price Target: Slightly increased from $68 to $72.
   • Summary: PayPal's recent performance has convinced Daiwa Securities to lift their rating from Underperform to Neutral, raising their price target by $4 to $72. This upgrade reflects a more optimistic view of PayPal's future, though the firm remains cautious.
3. General Dynamics (GD):
   • Brokerage Firm: Morgan Stanley
   • Rating Change: Upgraded from Equal Weight to Overweight.
   • Price Target: Increased from $293 to $345.
   • Summary: Morgan Stanley is bullish on General Dynamics, upgrading it to Overweight and significantly raising the price target to $345. This upgrade highlights strong confidence in the company’s growth prospects, particularly in the defense sector.
4. GoodRx (GDRX):
   • Brokerage Firm: Raymond James
   • Rating Change: Upgraded from Outperform to Strong Buy.
   • Price Target: Remains at $10.
   • Summary: Raymond James is doubling down on GoodRx with an upgrade to Strong Buy, maintaining a $10 price target. This move signals robust confidence in GoodRx’s market position and potential for substantial gains.
5. SoundHound AI (SOUN):
   • Brokerage Firm: Cantor Fitzgerald
   • Rating Change: Upgraded from Neutral to Overweight.
   • Price Target: Increased from $5 to $7.
   • Summary: Cantor Fitzgerald has shown increased optimism in SoundHound AI, boosting their rating to Overweight and raising the price target by $2 to $7. This upgrade indicates positive expectations for the company's AI-driven innovations and market performance.

Downgrades

1. Shopify (SHOP):
   • Brokerage Firm: DZ Bank
   • Rating Change: Downgraded from Hold to Sell.
   • Price Target: Not provided.
   • Summary: DZ Bank has taken a bearish stance on Shopify, downgrading it to Sell. This reflects growing concerns over the company’s ability to sustain its growth trajectory amid increasing competition and potential market saturation.
2. L3Harris (LHX):
   • Brokerage Firm: Morgan Stanley
   • Rating Change: Downgraded from Overweight to Equal Weight.
   • Price Target: Reduced from $275 to $257.
   • Summary: Morgan Stanley has adjusted its outlook on L3Harris, lowering the rating to Equal Weight and trimming the price target by $18 to $257. This downgrade suggests a more cautious approach as the firm reassesses the company’s near-term growth prospects.
3. Cars.com (CARS):
   • Brokerage Firm: JP Morgan
   • Rating Change: Downgraded from Overweight to Neutral.
   • Price Target: Reduced from $25 to $19.
   • Summary: JP Morgan’s downgrade of Cars.com to Neutral, along with a significant price target reduction to $19, indicates concerns over the company’s ability to navigate current market conditions and maintain its competitive edge.
4. Bumble Inc. (BMBL):
   • Brokerage Firm: Susquehanna
   • Rating Change: Downgraded from Neutral to Sell.
   • Price Target: Reduced from $14 to $6.
   • Summary: Susquehanna has taken a bearish view on Bumble, downgrading the stock to Sell and cutting the price target to $15. This move reflects skepticism about Bumble’s growth strategy and its ability to deliver on investor expectations.
5. Five9 (FIVN):
   • Brokerage Firm: Robert W. Baird
   • Rating Change: Downgraded from Outperform to Neutral.
   • Price Target: Slashed from $90 to $40.
   • Summary: Five9 has seen a significant downgrade from Robert W. Baird, with a sharp price target cut to $40. This downgrade highlights concerns about the company’s ability to meet future performance targets, leading to a more conservative stance.