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A Primary Beneficiary of the Ongoing E-Commerce Boom Will Be PayPal

By BenZinga
Capital Markets

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There is one company that is best positioned to take full advantage of the “inexorable trend” of payments moving from offline to online channels: Paypal Holdings Inc (NASDAQ: PYPL), analysts at Bank of America commented in a research report. The firm’s Jason Kupferberg maintains a Buy rating on PayPal’s stockrating with a price target boosted from $71 to $78.

Global e-commerce penetration as of 2016 stood at just 9.5 percent and is projected to increase by 100 basis points year over year through 2018, Kupferberg commented in a research report. This bodes well for PayPal, whose business …

Read the full story at Benzinga.

Photo: Getty iStock

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