UPDATE: Topeka Capital Markets Reiterates Hold Rating, Raises PT on eBay
In a report published Friday, Topeka Capital Markets reiterated its Hold rating on eBay (NASDAQ: EBAY), and raised its price target from $48.00 to $54.00.
Topeka Capital Markets noted, “eBay is scheduled to report 4Q12 earnings results after the close on Jan. 16. 2012. We expect eBay to report revenues and Adjusted EPS slightly above the consensus, owing to strong growth in the key Marketplace segment, where domestic non-vehicles GMV growth is set to accelerate for the fourth consecutive quarter. Payments should also exhibit another solid quarter of above 20% revenue growth. Raising our SOTP price target to $54 from $48 on higher target multiples due to the faster growth in Marketplaces.”
eBay closed on Thursday at $53.00.
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