eBay (EBAY) Target Raised to $64 at BofA/Merrill Lynch After Form 10 Filed; Sees Positive Risk-Reward
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BofA/Merrill Lynch analyst Justin Post reiterated a Buy rating and boosted his price target on eBay (NASDAQ: EBAY) to $64.00 (from $61.00) after the company filed the Form 10 on the PayPal spin.
The firm notes the Form 10 indicates slightly higher standalone PayPal op. margins and 2014 FCF than they estimated.
Post likes the risk/reward into the spin and sees an upside case of $73 and downside risk of $53.
Shares of eBay closed at $58.35 yesterday.
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