Canaccord Genuity Starts eBay (EBAY) at Hold; Early in Repositioning
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Price: $103.14 -1.38%
Rating Summary:
23 Buy, 28 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
23 Buy, 28 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Canaccord Genuity initiates coverage on eBay (NASDAQ: EBAY) with a Hold. PT $34.00.
Canaccord analyst, Michael Graham, said, "As mobile, local, and social commerce accelerate the blending of offline and online commerce, more opportunities to service merchants are emerging. eBay is early in exploiting these while trying to reposition Marketplaces. We believe the strategy is sound, but would like to see more evidence that recent momentum is
sustainable."
"Growth in eBay’s core Marketplaces business has recovered with recent strategic changes, but as the mix continues to shift toward larger sellers and fixed price, we believe eBay has more work ahead to ensure growth in gross merchandise value (GMV) is sustainable amid an intense competitive environment. While we believe Q4 is tracking well, we note competitive risks in 2012 and 2013."
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 $30.90 yesterday.
Canaccord analyst, Michael Graham, said, "As mobile, local, and social commerce accelerate the blending of offline and online commerce, more opportunities to service merchants are emerging. eBay is early in exploiting these while trying to reposition Marketplaces. We believe the strategy is sound, but would like to see more evidence that recent momentum is
sustainable."
"Growth in eBay’s core Marketplaces business has recovered with recent strategic changes, but as the mix continues to shift toward larger sellers and fixed price, we believe eBay has more work ahead to ensure growth in gross merchandise value (GMV) is sustainable amid an intense competitive environment. While we believe Q4 is tracking well, we note competitive risks in 2012 and 2013."
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 $30.90 yesterday.
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