eBay (EBAY) Plan to Spin-Off PayPal to Unlock Value - Baird
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Wedbush Downgrades eBay (EBAY) to Neutral
October 1, 2014 7:27 AM EDTWedbush downgraded eBay (NASDAQ: EBAY) from Outperform to Neutral with a price target of $62.00 (from $65.00). The stock was also removed from its Best Ideas List. Yesterday eBay said it would spin off PayPal. Analyst Gil Luria we believe shares are now more fully reflect the value of PayPal.
"We believe the... More
Jefferies Downgrades eBay (EBAY) to Hold on PayPal Spin-Off
October 1, 2014 6:43 AM EDTJefferies downgraded eBay (NASDAQ: EBAY) from Buy to Hold while maintaining a price target of $59.00.
The Jefferies US Internet Team commented, "After 2.5 months of active involvement by Carl Icahn and years of varying degrees of on/off debate and consideration of a possible... More
eBay (EBAY) Hold Rating Maintained at Deutsche Bank
September 30, 2014 2:57 PM EDTDeutsche Bank maintained a Hold rating on eBay (NASDAQ: EBAY) with a modified price target of $57 (from $55). Earlier eBay said it plans to spinoff PayPay. Analyst Ross Sandler thinks some value as already been realized.
"Having witnessed many Internet spins, our preferred playbook around whether investors should get involved post-announcement involves: 1) unlocking value by isolating hidden assets (think IACI in 2008), 2)... More
eBay (EBAY) Buy Rating Reiterated at Cantor Fitzgerald
September 30, 2014 2:12 PM EDTCantor Fitzgerald reiterated a Buy rating on eBay (NASDAQ: EBAY) with a price target of $63. Earlier eBay said it plans to spin off off PayPal. Analyst Youssef Squali expects the transaction will unleash potential.
"Today's announcement is in line with our stated belief that... More
RBC Capital Positive on eBay (EBAY) PayPal Spin-Off
September 30, 2014 12:37 PM EDTRBC Capital analyst Mark Mahaney weighed in on eBay (NASDAQ: EBAY) amid news the company will spin-off PayPal, after initially resisting the move. Mahaney views the news as a positive for the stock.
Mahaney cited six keys: 1) Not terribly surprising given... More
Carl Icahn 'Happy' With eBay (EBAY) PayPal Spin-Off News
September 30, 2014 11:27 AM EDTCarl Icahn said he is "happy" about eBay (NASDAQ: EBAY) plans to spin-off PayPal.
Below is a statement from Mr. Icahn regarding this morning's announcement by eBay Inc. of its plan to separate the companys eBay and PayPal businesses into independent publicly traded companies:
We are happy that eBays board... More
eBay (EBAY) PT Bumped to $57 at Susquehanna on PayPal Spin
September 30, 2014 11:13 AM EDTSusquehanna analyst Brian Nowak bumped his price target on eBay (NASDAQ: EBAY) to $57.00 (from $52.00) following the PayPal spin-off news but maintained a Neutral rating.
"This marks a notable change from eBay's recurring tone this year that the assets are "better... More
eBay's (EBAY) Spin of PayPal 'Makes Sense'; Cowen Offers Initial Commentary
September 30, 2014 8:10 AM EDTCowen and Company offers initial commentary on eBay's (Nasdaq: EBAY) plan to spin-off its PayPal unit into an independent, publicly-traded company.
Analyst John Blackledge commented, In our view, the Paypal spin makes a great deal of sense given 1) there is manageable overlap between the two... More
eBay (EBAY) SOTP Up to $88.74/Share Amid PayPal Spin-Off - SunTrust Robinson Humphrey
September 30, 2014 8:07 AM EDTAmid today's news from eBay (NASDAQ: EBAY) that it will spin-off PayPayl, SunTrust Robinson Humphrey analyst Robert Peck pointed clients to work they did in March on the topic, which suggested a SOTP price of $55.72-$88.74/share.
... More
eBay (EBAY) Taps AmEx's (AXP) Schulman to Lead PayPal Following Spinoff
September 30, 2014 7:03 AM EDTeBay (NASDAQ: EBAY) announced Dan Schulman is joining the company as the new President of PayPal, effective immediately. Schulman will become Chief Executive Officer of PayPal following the planned separation of the business into an independent, publicly traded company in the second half of 2015, which also was announced by eBay Inc. today.
The company announced separately today that its board of directors, following a strategic review, has approved a plan to separate eBay and PayPal into independent, publicly traded companies. The separation is expected to be completed in the second half of 2015.... More
eBay (EBAY) to Spin PayPal into Separate, Publicly-Traded Company
September 30, 2014 7:01 AM EDTeBay (NASDAQ: EBAY) said its Board of Directors, following a strategic review of the companys growth strategies and structure, has approved a plan to separate the companys eBay and PayPal businesses into independent publicly traded companies in 2015, subject to customary conditions. Creating two standalone businesses best positions eBay and PayPal to capitalize on their respective growth opportunities in the rapidly changing global commerce and payments landscape, and is the best path for creating sustainable shareholder value, the company said.
eBay and PayPal are two great businesses with leading global positions in commerce... More
