eBay "buy," target price reduced

16.10.08 - Stifel Nicolaus

NEW YORK, October 16 (newratings.com) - Analysts at Stifel Nicolaus & Company maintain their "buy" rating on eBay Inc (EBAY), while reducing their estimates for the company. The target price has been reduced from $22 to $20.

In a research note published this morning, the analysts mention that the company has reported in-line F3Q08 results. eBay?s current share price fully reflects the near-term headwinds being faced by the company, the analysts say. The EPS estimates for FY08 and FY09 have been reduced from $1.72 to $1.70 and from $1.86 to $1.78, respectively.