UPDATE: Canaccord Genuity Reiterates Hold Rating, Lowers PT on eBay
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
|Dec 2014||Stifel Nicolaus||Upgrades||Hold||Buy|
|Nov 2014||Evercore ISI||Downgrades||Hold||Sell|
|Oct 2014||Morgan Stanley||Initiates Coverage on||Underweight|
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.