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Paypal seen rising 40 percent from post-spin-off lows: Barron's

PayPal
Source: CNBC

PayPal, the e-commerce group trading sharply off its recent offering price, could rise 40 percent to $46 a share if it succeeds with investments tied to payments systems innovation, the Aug. 31 edition of Barron's said.

Spun off in July by auctioneer eBay, PayPal is now clear to do deals with big vendors like Staples and move into back office operations and other services, according to Barron's.

PayPal shares last week traded at $34.60, or over $4 less than its offering price in July, Barron's said.