UPDATE: Nomura Reduces PT to $59 on eBay on Post Q3 Earnings
Nomura reiterated its Buy rating on eBay (NASDAQ: EBAY) but lowered its price target from $60 to $59.
Nomura commented, "Last night, eBay reported solid 3Q:12 results, showing strength in both of its core businesses. Adjusted EPS of $0.55 beat consensus of $0.54, but was 2 cents shy of our Street-high $0.57. … The 30% two-year stacked growth was the highest in eBay history driven by the most new users added ever (+3.5mn) and more wallet share gains. eBay revised its FY 12 EPS guidance, now expecting $2.32-$2.35 (from $2.28-$2.33). Despite the revisions, we continue to see potential upside to eBay's guidance and Street expectations."
eBay closed at $48.20 on Wednesday.
Latest Ratings for EBAY
|Oct 2016||Hilliard Lyons||Upgrades||Long-Term Buy||Buy|
|Sep 2016||Deutsche Bank||Upgrades||Hold||Buy|
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.