eBay "outperform," target price raised

19.07.07 - Credit Suisse

NEW YORK, July 19 (newratings.com) - Analyst H Terry of Credit Suisse maintains his "outperform" rating on eBay Inc (EBAY), while raising his estimates for the company. The target price has been raised from $42 to $43.

In a research note published this morning, the analyst mentions that the company has reported its 2Q results ahead of expectations. eBay has raised its revenue and non-GAAP EPS guidance for 2007 from $7.2-$7.45 billion to $7.3-$7.45 billion and from $1.30-$1.34 to $1.34-$1.38, respectively. The pro forma EPS estimates for FY07 and FY08 have been raised from $1.36 to $1.40 and from $1.60 to $1.64, respectively.