eBay initiated with a Hold at Stifel

Stifel initiated coverage of eBay with a Hold rating and $46 price target. The firm thinks it will take time to see the benefits of eBay’s turnaround, which has been underway for a few years, and while eBay is taking the right approach, Stifel must see improvement in the buyer base and evidence that GMV is poised to show accelerating growth in order to become more positive on shares, the analyst tells investors in a research note.