Kaufman Bros. Starts eBay (EBAY) at Buy, PayPal Leading The Way

Kaufman Bros. is reinstating coverage on shares of eBay (NASDAQ: EBAY) with a Buy rating and $40 price target.

eBay is a leading online marketplace and online payments provider and the firm believes that the company has solid growth ahead due to payments growing 20%+ for several years, higher traction internationally, and strong mobile growth.

The firm feels that PayPal offers online shoppers a service that many new competitors will find are hard to overcome. The company's Bill Me Later offering is also experiencing increased merchant penetration.

The company currently has more international penetration than Amazon (NYSEL AMZN) does. eBay is able to profit more off an international sale than domestically.

For more ratings news on eBay click here and for the rating history of eBay click here.

Shares of eBay closed at $31.84 yesterday.

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