Jefferies Reiterates Buy, $42 Target on eBay

Jefferies maintains its Buy rating and $42 target price on eBay (NASDAQ: EBAY) as US strength is likely to offset weaker Europe.

Jefferies says, “ Our checks show that eBay's US business is performing better than expected this holiday season, which if sustained, should offset macro-induced weakness in Europe and translate into strong 4Q results. We remain positive on the company and the stock going into year-end.”

EBAY closed at $30.84 per share on Tuesday.