eBay "overweight," estimates raised

18.10.06 - Prudential Financial

NEW YORK, October 18 (newratings.com) - Analyst Mark J Rowen of Prudential Financial maintains his "overweight" rating on eBay Inc (EBAY), while raising his estimates for the company. The target price is set to $40.

In a research note published yesterday, the analyst mentions that the company is expected to post its 3Q results marginally ahead of the estimates. The analyst expects eBay is to, however, report a sequential decline in its global listings growth for the quarter. The company's business fundamentals appear to have improved marginally, Prudential Financial adds. The EPS estimate for 3Q has been raised from $0.23 to $0.24.