Brokers were in disagreement as to the future of online payment platform PayPal Holdings Inc (NASDAQ:PYPL).
Wedbush Securities raised its stock price target for the firm to US$50 from US$47, while Pacific Crest moved in the opposite direction, lowering its fair value estimate to US$38-US$40 from its previous recommendation of US$39-US$42.
PayPal released a trading update for the three months to June 30 on Thursday, which revealed revenue growth of 15%, while active customer accounts were also up by 11%.
Some other big names also came under scrutiny from brokers on Friday.
Consumer goods giant Unilever (NYSE:UL) was downgraded by RBC Capital to ‘sector perform’ from ‘outperform’, while JP Morgan cut its stock price target for coffeehouse chain Starbucks Corporation (NASDAQ:SBUX) to US$61 from US$68.
Starbucks’ sales growth missed expectations yesterday, reporting a like-for-like for sales increase of 4% during the last quarter, down on the 5.7% predicted by Wall Street.
Elsewhere, satellite TV provider Dish Network Corp (NASDAQ:DISH) was downgraded to a ‘sell’ recommendation from hold at Wunderlich Securities.
The firm reported better-than-expected earnings growth yesterday, although revenue was below expectations and Dish said it had lost subscribers.