eBay "buy," target price reduced

01.12.08 - Stifel Nicolaus

NEW YORK, December 1 (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 $20 to $17.

In a research note published this morning, the analysts mention that the company faces headwinds related to its business model. eBay is now likely to generate revenues of $8.8 billion in 2009, as compared to the $9.0 billion expected previously, the analysts say. The estimates for the company also reflect the current environment, the analysts say. The adjusted EPS estimate for 2009 has been reduced from $1.78 to $1.69.