eBay "sell"

17.10.07 - Cantor Fitzgerald

NEW YORK, October 17 (newratings.com) - Analyst Derek Brown of Cantor Fitzgerald maintains his "sell" rating on eBay Inc (EBAY). The target price is set to $30.

In a research note published yesterday, the analyst mentions that the company is expected to report its 3Q07 results ahead of expectations. Forex gains are likely to have boosted eBay?s revenues and EPS by around $50 million and $0.01-$0.02, respectively, in the quarter, the analyst says. The company is likely to raise its current revenue and pro forma EPS guidance for 4Q07 by $90 million and $0.02-$0.03, respectively, driven by the dollar weakness, Cantor Fitzgerald adds.