eBay "outperform," target price raised

19.10.07 - Credit Suisse

NEW YORK, October 19 (newratings.com) - Analysts at Credit Suisse reiterate their "outperform" rating on eBay Inc (EBAY), while raising their estimates for the company. The target price has been raised from $43 to $46.

In a research note published yesterday, the analysts mention that the company has posted its 3Q results ahead of the consensus. eBay has raised its revenue and non-GAAP EPS guidance for 2007 to $7.6-$7.65 billion and $1.47-$1.49, respectively. The company continues to exhibit improvements in the core marketplaces business, while growth in its other non-GMV business is accelerating, the analysts say. The GAAP EPS estimate for 2007 has been raised from $1.14 to $1.20. The EPS estimate for 2008 has been raised from $1.37 to $1.38.