UBS maintained a Buy rating on eBay (NASDAQ: EBAY) and raised its price target to $64.00 (from $62.00), suggesting upside of 13% from its previous closing price. The change follows eBay Q1 earnings report. Analyst Eric J. Sheridan sees "forward drivers."

"Over the past few months, eBay is a stock that has generated less interest in our investor conversations – lack of clarity on the separation & a lack of catalysts have been cited. In our view, the positive momentum from the Q1 report could be the stimulant to drive eBay's shares from the doldrums that has hurt share performance since 2013," said Sheridan.

"In 2H 2015 and 1H 2016 we see a number of catalysts that provide investors with a compelling risk/reward: a) Q3 separation of the businesses; b) a more stable forward margin profile (for both eBay & PayPal) than feared; c) capital allocation announcements for eBay Inc. which could drive substantial shareholder returns; and d) the potential for improving Marketplaces revenues (against easier growth compares)," added the analyst.

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 $56.75 yesterday.