UPDATE: Cantor Fitzgerald Initiates Coverage on eBay with Hold Rating, $48 PT
In a report published Friday, Cantor Fitzgerald initiated coverage on eBay (NASDAQ: EBAY) with a Hold rating and $48.00 price target.
Cantor Fitzgerald noted, “We are initiating coverage of eBay with a HOLD rating and a $48 price target. The improving Marketplace fundamentals, supported by PayPal's healthy growth and synergies from GSI, are key reasons to like the name. Our HOLD rating is valuation-based, given the 54% run-up YTD.”
eBay closed on Thursday at $49.96.
(c) 2013 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.