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UPDATE: Credit Suisse Assumes Coverage on eBay

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Credit Suisse published a research report on eBay (NASDAQ: EBAY) and assumed coverage with a Neutral rating and raised the price target from $41 to $47.

In the report, Credit Suisse wrote, "Our thesis remains unchanged, as we continue to be positive on eBay's fundamentals based on our expectation for sustainable double digit revenue growth for PayPal with expanding margins over the long run, and that the Marketplaces segment will continue to show further signs of stabilization. Valuation is the factor in tempering our near-term enthusiasm. Longer term, we see upside potential from several nascent initiatives and will be revisiting our viewpoint on eBay as we focus on two specific incremental opportunities: (1) Mobile Payments/Point-of-Sale and (2) GSI/X.Commerce (open commerce platform). As we approach the end 2012, we are rolling forward our price target to 2013 estimates, which increases our DCF-derived price target from $41 to $47."

eBay is currently trading up 0.82 percent from Tuesday's $46.22 closing price.

Latest Ratings for EBAY

DateFirmActionFromTo
Jan 2017Aegis CapitalInitiates Coverage OnBuy
Oct 2016Hilliard LyonsUpgradesLong-Term BuyBuy
Oct 2016WedbushMaintainsNeutralNeutral

View More Analyst Ratings for EBAY
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Posted-In: Credit SuisseAnalyst Color Price Target Analyst Ratings

 

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