小摩2026支付行业展望：看淡费哲金融服务(FISV.US)和PayPal(PYPL.US) 押注Toast(TOST.US)增长潜力

智通财经2025-12-05

智通财经APP获悉，展望2026年支付行业前景，摩根大通将费哲金融服务(FISV.US)和PayPal(PYPL.US)的评级从“增持”下调至“中性”，认为当前“卖出为时已晚，买入为时尚早”。该行在研报中表示：“我们乐于告别2025年——支付类股正录得除新冠疫情外15年来最差表现。市场增长放缓引发了行业商品化担忧，而贷款等新产品的投资回报率也存在不确定性。”对于费哲金融服务和PayPal，摩根大通...

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