UPDATE: Credit Suisse Reiterates Neutral Rating, Raises PT on eBay
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
|Jan 2015||Morgan Stanley||Upgrades||Underweight||Equalweight|
|Jan 2015||Deutsche Bank||Maintains||Hold|
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.