Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Markets & Finance

Salomon Downgrades PayPal to 'Outperform'

Salomon Smith Barney downgraded PayPal (PYPL) to outperform from buy.

Analyst Patrick Burton says his downgrade will coincide with Salomon's eBay rating. He also notes that PayPal's price should now be tied to the performance of eBay given the structure of deal. Burton says Salomon's $75 target for eBay would equate to $29.25 for PayPal; as such, he cut PayPal's $33 target to $29 to reflect a tie to eBay's valuation.

He notes management expects the deal to close by the end of 2002. Strategically, the deal should improve fraud prevention, enhance growth, promote brand awareness and create cost synergies.

blog comments powered by Disqus