Topeka Cut Price Target on eBay

In a note issued Tuesday morning, Topeka Capital Markets analyst, Victor Anthony, slashed his price target for eBay Inc. EBAY from $60 to $51 but maintained a Hold rating. As reasons for the cut, Anthony noted an "increasingly challenging" road ahead for PayPal, eBay's data breach, and the negative impact from the Panda 4.0 update. Based on these items, he has reduced his Marketplace estimates. Following the release of the note shares of eBay have dropped close to 1 percent in the pre-market.