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PayPal stock downgraded as growth factors are passe

PayPal, the online payment firm, had its stock downgraded to "hold" from "buy" by Canaccord Genuity analysts on Monday.

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Downgraded, but bank Wells Fargo upgraded

PayPal (NASDAQ:PYPL), the online payment firm, had its stock downgraded to "hold" from "buy" by Canaccord Genuity analysts on Monday.

"We are optimistic regarding [total payment volume] growth in the near term, but we believe the factors driving this (One Touch, Venmo) are well understood and largely reflected in estimates," they said.

The analysts also lowered their price target on PayPal shares to $40 from $45.

PayPal shares closed down 1.7% at $40.01 on Monday.

Viacom (NASDAQ:VIAB) was downgraded by analysts at Stifel on Monday.

The media giant's stock moved to "hold" from "buy" and its price target was cut to $38 from $49, citing reports that Viacom's board has decided to halt plans to sell its minority stake in Paramount Pictures.

"We had been holding the potential of a sale as one of the key anchors of our Buy rating as such a sale would have made the core Media assets despite the challenges appear under-valued," Stifel analysts said.

Viacom shares closed down 0.6% at $36.77.

Bank Wells Fargo (NYSE:WFC) stock was upgraded to "outperform" from "neutral" by analysts at Baird, citing an "attractive" risk/reward scenario.

"Clearly, recent headlines surrounding retail banking sales practices at WFC are a black eye for a company with a great long-term fundamental track record. However, we think pessimism in the stock is likely to peak over coming days, and find the market's extraction of $25bn in WFC market value related to a $2.6mln revenue loss to be excessive," Baird said.

Wells Fargo shares closed up 1.3% at $46.01.

General Motors (NYSE:GM) shares were upgraded by analysts at Morgan Stanley.

The automaker’s stock was upgraded to "overweight" from "equal-weight" and raised the price target to $37 from $29.

"We believe GM´s businesses can remain relevant and profitable for longer than the market thinks. A move to Auto 2.0 requires a lengthy transition period (Auto 1.5) during which time GM can generate cash, return cash and nurture new businesses with potentially positive terminal values," Morgan Stanley analysts said in a note to clients.

General Motors shares ended up 2.4% at $31.72.

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