Baird Affirms PayPal (PYPL) at ‘Outperform’ Following Xoom Acquisition; Says Apple Pay …

FREE Breaking News Alerts from StreetInsider.com! StreetInsider.com Top Tickers, 11/12/2015 November 12, 2015 12:43 PM EST Tweet Send to a Friend Baird affirms PayPal (Nadaq: PYPL) at Outperform with a price target of $45 following recent Apple chatter and its completion of the Xoom acquisition. Analyst Colin Sebastian noted the following points: Apple Pay remittance threat is misunderstood: In contrast to the commodity domestic money transfer market, there are high barriers to entry in the cross-border remittance market, including regulations/compliance, costs and brand-building, and even more significant, management of fraud risk. We believe that combining PayPal’s scale and resources along with Xoom’s well-established remittance service should drive accelerating growth. While ApplePay could present a bigger challenge to Venmo, we believe there are clear advantages for a focused and cross-platform offering.…


Link to Full Article: Baird Affirms PayPal (PYPL) at ‘Outperform’ Following Xoom Acquisition; Says Apple Pay …