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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
Jan 2015Morgan StanleyUpgradesUnderweightEqualweight
Jan 2015Deutsche BankMaintainsHold
Jan 2015BenchmarkMaintainsBuy

View More Analyst Ratings for EBAY
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Posted-In: Canaccord GenuityAnalyst Color Price Target Analyst Ratings

 

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