eBay "buy," target price raised

18.10.07 - Stifel Nicolaus

NEW YORK, October 18 (newratings.com) - Analysts at Stifel Nicolaus & Company maintain their "buy" rating on eBay Inc (EBAY), while raising their estimates for the company. The target price has been raised from $44 to $46.

In a research note published this morning, the analysts mention that the company has reported healthy results for the latest quarter, with normalized GMV rising by 9%. eBay?s non-GMV businesses continued to boost Marketplaces growth in the quarter, a trend that is expected to continue going forward, the analysts say. While the performance of PayPal was robust, that of Skype was reasonable, Stifel Nicolaus & Company adds. The cash EPS estimates for 2008 and 2009 have been raised from $1.60 to $1.65 and from $1.79 to $1.85, respectively.