In a note released Thursday, Cantor analyst Youssef Squali detailed his view of how Apple Pay will impact Paypal.
Squali said, due to the scope -- point-sale and in-app purchase limited to iPhone 6 and Apple Watch -- Apple Pay is likely to have a limited impact on PayPal's revenue in the near to medium-term. However, he believes pressure from Apple Pay and continued weakness in eBay's EBAY core business could prompt a spin off of PayPal.
Squali currently rates eBay a Buy with a $63 price target.
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