PayPal hit by fresh downgrades as Wall Street turns cautious

PayPal shares fell after Bank of America downgraded the stock to Neutral and cut its target to $68, citing a Q4 growth slowdown and weaker branded checkout trends. The move adds to a series of bearish calls from JPMorgan, Deutsche Bank, Evercore ISI, and Wells Fargo this month. PYPL slipped over 1.7% in pre-market trade.