eBay (EBAY) PT Raised to $49 at Mizuho

Mizuho analyst James Lee raised the price target on eBay (NASDAQ: EBAY) to $49.00 (from $44.00) while maintaining a Neutral rating.

The analyst commented: "GMV beat expectations due to continued product improvements. Focus categories growth maintained mid-single-digits, with strength coming from P&A and supported by the company’s international shipping and CBT. Furthermore, monetization of advertising remained on a positive trajectory with more room to go. As a result, 2Q24 and FY24 guidance are mostly reaffirmed with a slight uptick to non-GAAP EPS. Maintain Neutral and raise PT to $49 from $44, based on SOTP as we raise the multiple to 5x (from 4.5x) FY25E EBITDA for ecommerce business due to improving trends."

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