Jefferies Lowers Estimates On Three Internet Stocks
June 07, 2010 4:59 AM
Jefferies is paring EPS estimates and price targets on three Internet stocks due to the adverse impact the plunging Euro will have on the companies' bottom lines.
Jefferies lowered its price target on Internet auction giant eBay (Nasdaq: EBAY) to $30 from $32 and lowered the 2010 EPS estimate to $1.61 from $1.68. The 2011 EPS estimate was lowered to $1.70 a share from $1.79.
Jefferies trimmed its price target on Amazon.com (Nasdaq: AMZN) to $160 from $170. The 2010 EPS estimate was lowered to $3.10 a share from $3.15, while the 2011 EPS estimate was pared to $4.25 from $4.38 a share.
Finally, Jefferies reduced its price target on Vistaprint (Nasdaq: VPRT) to $67 from $70. For the June 2010 fiscal year, Jefferies now expects EPS of $1.96, down from $1.97 and for fiscal 2011, Jefferies sees EPS $2.49, down from a previous estimate $2.60 a share.
