UPDATE: BMO Capital Markets Initiates eBay at Outperform on Payment Business Growth

BMO Capital Markets initiated eBay EBAY with an Outperform rating and a $64.00 price target. BMO Capital Markets said, "We believe the company benefits from a positive symbiotic relationship between its payments business and its marketplace, which should allow it to continue to experience solid growth. We expect the company's payments category, led by PayPal, will continue to post meaningful growth for the foreseeable future. In particular, we expect the company to benefit from efforts to broaden the acceptance of PayPal at point-of-sale. We expect the company's marketplace segment can sustain the strength it has posted over the past few years as it continues to expand its global market." eBay closed at $54.15 on Wednesday.