eBay "sell," estimates raised

19.10.06 - Cantor Fitzgerald

NEW YORK, October 19 (newratings.com) - Analyst Derek Brown of Cantor Fitzgerald maintains his "sell" rating on eBay Inc (EBAY), while raising his estimates for the company. The target price is set to $25.

In a research note published this morning, the analyst mentions that eBay has reported its 3Q06 results ahead of the consensus. The company has, however, issued its 2007 guidance short of the consensus. The company?s sell rating reflects the continued weakness in growth, sustained indications of worsening metrics and declining activity levels, Cantor Fitzgerald adds. The EPS estimates for 2006 and 2007 have been raised from $1.00 to $1.02 and from $1.21 to $1.22, respectively.