From Earlier: Wedbush Reiterates eBay Outperform, $48 PT
In a quick note published Friday morning, Wedbush Securities reiterated its Outperform rating and $48.00 price target on eBay Inc. (NASDAQ: EBAY).
In the report, Wedbush stated, “We believe EBAY will outperform as it transforms into a payments-driven company and garners V/MA-like multiples. We believe eBay will realize significant value over the next few years as it extends its support of retailers from the online realm onto their entire footprint. We expect shorter-term upside from PayPal margins, especially if V (Visa), MA (MasterCard) and the banks include interchange concessions in their merchant litigation settlement.”
Shares of eBay were trading at $40.29 at the time of posting, down 1.56 percent from Thursday's market close.
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