eBay (EBAY) PT Raised to $63 at Mizuho Securities

Mizuho Securities analyst James Lee raised the price target on eBay (NASDAQ: EBAY) to $63.00 (from $55.00) while maintaining a Buy rating.

The analyst commented, "GMV growth came in ahead of consensus at 18% YoY growth FXN due to increased demand for online shopping and rising COVID cases, especially in international markets. CEO also updated the strategy of leveraging non-seasonal items such as refurbished goods, sneakers and watches to offer differentiation and drive growth. Heading into 1Q20, we expect GMV growth will accelerate in low 20s due to easier comps, but revenue growth will be higher due to promoted listings and increased adoption of Payments. With a better than expected quarter, we are raising our FY22 EPS by 4% to $4.17. Maintain Neutral, but raise PT from $55 to $63, based on our SOTP."

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