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UPDATE: Credit Suisse Reiterates Neutral Rating, Raises PT on eBay

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In a report published Monday, Credit Suisse Group reiterated its Neutral rating on eBay (NASDAQ: EBAY), and slightly raised its price target from $49.00 to $50.00.

Credit Suisse noted, “Our overall positive view on EBAY's underlying fundamentals remains unchanged. We raise our 4Q12, 2013, and longer-term estimates as we believe the company's recent moves to: 1) compress the user signup path and resulting acceleration in active users, 2) redesign its home page, as well as to 3) update its search engine to better incorporate user behavioral/purchasing data to make improved merchandising decisions should all contribute to improved conversion rates. This in turn should provide a lift to both GMV as well as TPV growth rates in the near as well as medium term. Valuation remains the only factor keeping us from a more constructive rating. As such, we maintain our Neutral rating.”

eBay closed on Friday at $53.70.

Latest Ratings for EBAY

DateFirmActionFromTo
Nov 2014Evercore ISIDowngradesHoldSell
Oct 2014Morgan StanleyInitiates Coverage onUnderweight
Oct 2014Monness Crespi HardtInitiates Coverage onBuy

View More Analyst Ratings for EBAY
View the Latest Analyst Ratings

Posted-In: Credit Suisse GroupAnalyst Color Price Target Analyst Ratings

 

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