eBay "buy," target price reduced

17.12.07 - Stifel Nicolaus

NEW YORK, December 17 (newratings.com) - Analysts at Stifel Nicolaus & Company maintain their "buy" rating on eBay Inc (EBAY). The target price has been reduced from $46 to $39.

In a research note published this morning, the analysts mention that the company is likely to report its quarterly results in-line with or ahead of expectations. Upside may be driven by strength in the PayPal business and continued US dollar weakness, the analysts say. The downward revision in the target price reflects the current competitive environment, Stifel Nicolaus & Company adds.