Keefe, Bruyette & Woods initiates its coverage on eBay EBAY with an Outperform rating and a price target of $50.
Keefe, Bruyette & Woods comments, "We believe eBay is uniquely positioned to benefit from and capitalize on the convergence of commerce, payments, and marketing by offering a one-stop-shop solution for merchants through a combination of its three business segments. More tangibly, we are favorably disposed to the shares for the following reasons: 1) the current valuation is attractive, in our view, 2) eBay's international growth profile, 3) the ability for the company to take share across all of its businesses, and 4) the company's significant free cash flow generation."
EBAY closed at $40.67 on Friday.
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