Wedbush Assumes eBay (EBAY) at Neutral
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Wedbush assumes coverage on eBay (NASDAQ: EBAY) with a Neutral rating and a price target of $34.00.
Analyst Aaron Turner commented, "We believe EBAY will continue to benefit from the secular growth of ecommerce as initiatives such as site/mobile improvements and structured data help slow the rate of market share erosion. We believe significant share buybacks supported by robust free cash flow should provide a measure of downside protection. While our bias on EBAY is positive, we remain NEUTRAL pending signs recent growth is sustainable and/or accelerating."
Shares of eBay closed at $31.50 yesterday.
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