PayPal stock will still be under pressure as Alex Chriss takes over as chief executive, MoffetNathanson says

PayPal could still underperform expectations despite a reset with a new chief executive, according to MoffetNathanson. The firm downgraded PayPal stock to market perform from outperform in a Monday note, and lowered its price target to $75 per share. MoffetNathanson's forecast implies roughly 17% upside from Friday's $64.21 close. PayPal stock has slipped nearly 10% from the start of the year and was off 1.4% in premarket trading Monday. PYPL YTD mountain PayPal stock. Analyst Lisa Ellis says that despite …