Citigroup Maintains Hold Rating, $31 PT On EBAY

eBay Inc. (NASDAQ: EBAY) will report after the close tomorrow (Wednesday, January 19). Citigroup said that it is looking for $2.43B in Rev and $0.46 in pro-forma EPS, modestly below Street consensusexpectations of $2.48B and $0.47.“We note that with 1.33B shares outstanding and a 22% tax rate, $0.01 upside to our estimate would require approximately $17MM in incremental operating income,” Citigroup writes.“Based on intra-quarter data points and channel checks, our model sensitivity work, our FX analysis, and our Macro read, we believe Street Q4 Estimates are ballpark reasonable. We note that Street estimates are close to high-end EBAY guidance.”Citigroup maintains its Hold rating and $31 PT on eBay Inc., which trades at $29.38.