Credit Suisse Has Positive Outlook On eBay

In a report published Thursday, Credit Suisse analyst Stephen Ju reiterated a Neutral rating and $62.00 price target on

. In the report, Credit Suisse noted, “eBay reported 2Q14 results in-line with our expectations. Total revenue amounted to $4.37 billion, up 12.6% year over year, slightly below our $4.42 billion forecast and at the high-end of the guidance range. Non-GAAP EPS at $0.69 was below our $0.71 estimate, but above consensus of $0.67. We maintain our Neutral rating at this time, as we remain in a holding pattern waiting for the positive impact from its key product releases such as Cassini to start manifesting itself with higher conversion rates and GMV acceleration. "While the headwind imposed by the data breach and to a smaller degree Panda will be disappointing for investors waiting on marketplaces improvement, these effects are at the end of the day transitory and does not in any way mean the longer-term bull's investment thesis should be impaired.” eBay closed on Wednesday at $50.70.