Mizuho's Bullish Re-Rating On PayPal Had An Apple Connection - Read To Know - PayPal Holdings (NASDAQ:PYPL), Apple (NASDAQ:AAPL), Block (NYSE:SQ)

Mizuho analyst Dan Dolev's proprietary survey of PayPal Holdings, Inc's PYPL Venmo and Apple Inc AAPL Apple Pay exhibited a "strong appetite" to tap to pay with Venmo if Apple opened up its near field communication to Venmo.
Dolev estimates that tap-to-pay with Venmo could present a 10% total payment volume and 15%-20% sales upside given Venmo's high in-store take rates and its stored balance-driven funding mix.
Also Read: Here's How PayPal Helped Trigger EU Antitrust Allegations Against Apple
Dolev was optimistic about the likelihood of Apple opening up its NFC to Venmo, further amplified by Apple's tap-to-pay partnership with Block, Inc SQ.
Dolev reiterated a Buy rating on PayPal with a $120 price target.
Price Action: PYPL shares traded higher by 1.83% at $88.39 on the last check Tuesday.

Mizuho's Bullish Re-Rating On PayPal Had An Apple Connection - Read To Know