UPDATE: Bank of America Raises PT on eBay on Expected Solid 1Q Results

In a report published Monday, Bank of America analyst Justin Post reiterated a Buy rating on eBay (NASDAQ: EBAY), and raised the price target from $60.00 to $62.00.In the report, Post noted, “eBay reports on 4/17, and we expect eBay to report in-line with our rev./EPS ests. of $3.77bn/$0.63 vs. the Street at $3.77bn/$0.62 (guidance is $3.65bn-$3.75bn and $0.60-$0.62). We think a modest q/q deceleration in GMV growth (we are at 16%) and TPV growth is expected, and slightly better-than-expected 1Q EPS results will have little impact on long-term outlook given the positive 3 yr. outlook provided at Analyst Day. While we don't see a lot of estimate or stock upside on results given the strong sentiment and post-Analyst Day move, we like eBay's market position and strategy and maintain our Buy rating.”eBay closed on Friday at $57.31.