eBay initiated with "hold"

11.09.07 - Jackson Securities

NEW YORK, September 11 (newratings.com) - Analyst Brian Bolan of Jackson Securities initiates coverage of eBay (EBAY) with a "hold" rating. The 12-month target price is set to $37.

In a research note published this morning, the analyst mentions that the company?s core business has been growing consistently over the past several years. Healthy growth in payments and communications is likely to offset the marginal decline in eBay?s core auction business, the analyst says. The company is expected to achieve earnings, margin and multiples expansion going forward, Jackson Securities adds.