Backed by recent price action, Wall Street analysts feel comfortable boosting their valuations.has been the darling of the entire stock market since the aftermath of the COVID-19 pandemic, and most stocks in the space easily delivered double-digit rallies for investors. However, not all stocks in the sector are made—or treated—equal, which is where investors can find some new opportunities to exploit in a catch-up strategy.
Those at Mizuho Financial took the lead last quarter when boosting their valuations for PayPal stock up to $90 a share. Still, after a sharp rally to get there in record time, new valuations have been placed on the company. This time, Mizuho wants to see PayPal at $100 a share and reiterated an Outperform rating on the company as well.
Confidence can be justified further by today’s Wall Street earnings per share forecasts for PayPal, which shoot for $1.30 a share in 12 months. This implies a growth rate of 9.2% from today’s $1.19 level.After a more than 12% sell-off in Google's parent company, Alphabet, investors forgot how vital this company is to the global economy and how likely it was to pose a recovery rally shortly thereafter.
After a disappointing quarterly earnings release, shares of ASML dropped by as much as 16% in a single day, though today’s prices might not remain there for long. Investors can dismiss the previous bearish momentum mainly because the stock’s valuation multiplies.
South Africa South Africa Latest News, South Africa South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: Investingcom - 🏆 450. / 53 Read more »
Source: Investingcom - 🏆 450. / 53 Read more »
Source: Investingcom - 🏆 450. / 53 Read more »
Source: Investingcom - 🏆 450. / 53 Read more »