eBay "outperform," estimates raised

19.04.07 - Credit Suisse

NEW YORK, April 19 (newratings.com) ? Analysts at Credit Suisse maintain their "outperform" rating on eBay Inc (EBAY), while raising their estimates for the company. The target price is set to $42.

In a research note published this morning, the analysts mention that the company has reported its 1Q results ahead of the consensus and the estimates. eBay has raised its non-GAAP EPS and revenue guidance for 2007 from $1.25-$1.29 to $1.30-$1.34 and from $7.05-$7.30 billion to $7.20-$7.45 billion, respectively. The EPS estimate for 2007 has been raised to $1.36. The EPS estimate for 2008 has been raised from $1.57 to $1.60 to reflect a faster-than-anticipated recovery in revenues per listing, driven by ASP growth and robust conversion rates.