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Here are the biggest calls on Wall Street on Wednesday:
Cowen said it sees shares of the stock accelerating as the company's inititiaves towards "customer acquisition and retention" remains above peers.
"Dick's is seeing accelerating share gain, improving allocations and adoption of its e-commerce platform, with e-commerce revenue modeled +150% in Q2:20. Our model is backstopped by consistently improving proprietary survey data. We model $3.90 in FY22E EPS and are raising our price target to $50 and model sustainable dividend growth."
Barclays raised its price target on the stock to a Street high and said the company is poised to take advantage of the changing of payment models due to the coronavirus crisis.
"COVID-19 is accelerating existing point of sale trends that were already supportive. While the point of sale was already changing in ways favorable to PYPL, COVID-19 amplified existing trends by creating an urgency on the part of both merchants and consumers to alter historical payments models and behaviors. We believe PYPL rightly sees the current environment as a one-time opportunity, which the company is set to begin capitalizing on sooner than investors expect (i.e., in a matter of months rather than years)."