Commerce

Analyst Raises Price Target for eBay After Evidence of Strong Holiday Sales

Published on January 3, 2013
by Tricia Duryee

Baird Equity Research’s Colin Sebastian raised his price target for eBay today to $60, up by $2, based on evidence that eBay and PayPal benefited from a 15 percent increase in online spending during the holidays. Sebastian now expects eBay to earn 69 cents a share on revenue of $4 billion in the fourth quarter, which is the high end of eBay’s guidance. In trading today, eBay’s shares fell $1.16, or 2.2 percent, to $52.43 a share. The company will report earnings on Jan. 16.

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