Benchmark Reiterates Buy on eBay as Weak Holiday Outlook Clouds Consistent Fundamental Improvement
In a report published Thursday, Benchmark Company analyst Daniel L. Kurnos reiterated a Buy rating and $63.00 price target on eBay (NASDAQ: EBAY).
In the report, Benchmark Company noted, “eBay (EBAY-Buy, PT $63) reported in-line 3Q results, with outperformance in Marketplaces revenue and incremental operating leverage offsetting a modest shortfall in PayPal revenue. However, guidance once again came in below expectations, driven by domestic macro weakness and caution regarding the holiday period. While we suspect management's near-term forecast may prove conservative, we see no change to the positive, consistent fundamental long-term trends. Therefore, although we acknowledge there could be some risk to the story over the next quarter, we reiterate our 2014 estimates, calling for accelerating growth in both primary business segments, and maintain our Buy rating.”
eBay closed on Wednesday at $53.52.
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.