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UPDATE: Canaccord Genuity Reiterates Hold Rating, Lowers PT on eBay

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In a report published Wednesday, Canaccord Genuity reiterated its Hold rating on eBay (NASDAQ: EBAY), but lowered its price target from $56.00 to $50.00.

Canaccord Genuity noted, “eBay's impressive turnaround has been rewarded by multiple expansion of ~65% from 11x '13E EPS at the start of 2012 to 19x today, while EPS estimates are up by ~4% over the same period. We believe there is still room for modest earnings upside, but would like to see evidence that our optimistic scenario for next year can materialize to get more constructive on the stock.”

eBay closed on Monday at $51.00.

Latest Ratings for EBAY

DateFirmActionFromTo
Jul 2015Morgan StanleyInitiates Coverage onEqual-weight
Jul 2015Raymond JamesDowngradesOutperformMarket Perform
Jul 2015BarclaysMaintainsEqual-weight

View More Analyst Ratings for EBAY
View the Latest Analyst Ratings

Posted-In: Canaccord GenuityAnalyst Color Price Target Analyst Ratings

 

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