eBay upgraded to "outperform"

26.07.06 - Bear Stearns

NEW YORK, July 26 (newratings.com) - Analyst Robert S Peck of Bear Stearns upgrades eBay Inc (EBAY) to "outperform." The target price is set to $33.

In a research note published yesterday, the analyst mentions that eBay?s share price has declined by 47% from the high in September. The company is likely to become a takeover target in the near future due to its communication offerings, expertise in the commerce sector and payment service, the analyst says. The company?s share price more than discounts for the concerns regarding the recent increase in store fees, Bear Stearns adds.