Jefferies Reiterates Buy, $42 PT On eBay

In a note out today, Jefferies reiterated a buy rating and $42 price target on eBay

, the largest online auction site. The price target implies substantial upside in the shares. “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,” Jefferies said in the note.