eBay "buy," target price reduced - update

20.01.06 - Stifel Nicolaus

NEW YORK, January 20 (newratings.com) - Analysts at Stifel Nicolaus & Company maintain their "buy" rating on eBay Inc (EBAY), while reducing their estimates for the company. The target price has been reduced from $50 to $48.

In a research note published yesterday, the analysts mention that the company has posted its Q4 net revenues and cash EPS ahead of the estimates. eBay has issued a conservative guidance for FY06, with revenues of $5.7 billion-$5.9 billion and pro forma EPS of $0.96-$1.01. The EPS estimate for 2006 has been reduced from $1.04 to $1.02.