eBay upgraded to "outeprform"

23.07.09 - RBC Capital Markets

NEW YORK, July 23 (newratings.com) - Analysts at RBC Capital Markets upgrade eBay Inc (EBAY) from "sector perform" to "outperform." The target price has been raised from $16 to $24.

In a research note published this morning, the analysts mention that the company has reported 2.7% growth in the number of items sold in 2Q09. A recovery in the number of items sold by eBay indicates a recovery in the near future, the analysts say. A turnaround in the company?s operations is likely to result in improved sales and payments going forward, RBC Capital Markets adds.