eBay "buy," target price reduced

20.04.06 - Stifel Nicolaus

NEW YORK, April 20 (newratings.com) - Analysts at Stifel Nicolaus & Company maintain their "buy" rating on eBay Inc (EBAY). The target price has been reduced from $48 to $45.

In a research note published this morning, the analysts mention that the company has reported its 1Q results broadly in-line with expectations, with cash EPS marginally ahead of the estimates. eBay has reiterated its conservative guidance for 2006. The revenue estimate for 2006 has been reduced from $5.96 billion to $5.95 billion.