Mizuho Securities Starts eBay (EBAY) at Neutral

Mizuho Securities initiates coverage on eBay (NASDAQ: EBAY) with a Neutral rating and a price target of $65.00.

Analyst Neil Doshi commented, "While we are bullish on the spinoff of the Paypal business, we are still initiating coverage of eBay with a Neutral. We are positive on PayPal's prospects, given that the separation should allow management to focus on growing its user base, expanding PayPal's reach, and accelerating product innovation. However, we remain concerned about the core eBay marketplace business, which has recently shown lack luster GMV growth, in the low-to-mid single digit range, has lost traction and share to Amazon, and faces a greater competition going forward."

For an analyst ratings summary and ratings history on eBay click here. For more ratings news on eBay click here.

Shares of eBay closed at $61.61 yesterday.

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