Topeka Capital Upgrades eBay (EBAY) to Buy

April 2, 2013 7:22 AM EDT
Get Alerts EBAY Hot Sheet
Price: $73.41 +0.71%

Rating Summary:
    20 Buy, 29 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 18 | Down: 11 | New: 19
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Topeka Capital upgraded eBay (NASDAQ: EBAY) from Hold to Buy with a price target of $65.00 (from $54.00) saying they see strong growth for the foreseeable future.

"eBay's management team has successfully demonstrated their ability to execute against planned three year targets in 2009 and 2011. Based on this track record, we believe that they can execute against the current three year plan that calls for an aspirational doubling of the Payments business and near mid-teens growth in e-commerce," analyst Victor Anthony comments. "We believe that the core e-commerce transaction business can continue to benefit from a rising tide of commerce moving to the Internet/mobile and that PayPal can drive 20%+ annual top-line growth for the foreseeable future."

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 $55.71 yesterday.

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