UPDATE: Deutsche Bank Reiterates Hold Rating, Raises PT on eBay Ahead of Results Report

In a report published Friday, Deutsche Bank analyst Ross Sandler reiterated a Hold rating on

, and raised the price target from $55.00 to $60.00. In the report, Deutsche Bank noted, “We expect eBay to report in-line results for the Marketplaces segment with US ex-Vehicle growth largely stable (+14%-15%) vs. 1Q on ASP growth partially offset by unit deceleration. On the PayPal side, we expect Merchant Services growth of 27% Y/Y but expect take-rates to decline Y/Y from tougher hedging comps. Looking to the back half of the year, we expect to see improved conversion from Cassini, which was rolled out in the U.S. in late June. At 19x '14 EPS and with limited upward revision to estimates, many of these newer initiatives already appear priced in. Maintain Hold.” eBay closed on Thursday at $55.88.