eBay "sell," estimates raised

14.04.07 - Cantor Fitzgerald

NEW YORK, April 14 (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 $29.

In a research note published yesterday, the analyst mentions that the company?s 1Q07 operating metrics are expected to exhibit additional market share erosion. The EPS estimates for 2007 and 2008 have been raised from $1.27 to $1.28 and from $1.47 to $1.48, respectively, primarily to reflect incremental improvements in conversion rates and favourable currency effects, offset partly by increased promotions and weak listings.