eBay "neutral," target price raised - update

20.04.07 - UBS

NEW YORK, April 20 (newratings.com) - Analysts at UBS maintain their "neutral" rating on eBay (EBAY). The 12-month target price has been raised from $35 to $37.

In a research note published yesterday, the analysts mention that the company has reported its 1Q net revenues and adjusted EPS ahead of the consensus. The upside was driven by favourable currency effects and tax rate, UBS adds. eBay has raised its revenue and pro forma EPS guidance for FY07 from $7.05-$7.30 billion to $7.20-$7.45 billion and from $1.25-$1.29 to $1.30-$1.34, respectively.