[3/9/2020 – Australian Financial Review ] Afterpay bull and broker Bell Potter, now of $99.10 price target frame, is not backing down from its call following the waves made by PayPal’s Pay in 4 forthcoming buy now, pay later product.
“In short, we believe the market opportunity continues to expand for Afterpay, and the new markets (Canada, EU and Asia) coupled with the relative infancy of the US and UK jurisdictions provide material anticipated gross merchant value growth for the foreseeable future.”
PayPal’s interest is just further evidence “endorsement” of buy now, pay later.
“There is no obvious success yet, with Mastercard and VISA moving to partner with key players instead. We do see PayPal as the most credible new entrant of the group, however providing credit isn’t new for PayPal and we see APT’s model as uniquely different,” writes analyst Lafitani Sotiriou, who has a “buy” recommendation on the stock. His previous price target was $96.70… [Read More]
