eBay price target lowered to $46 from $52 at BofA

BofA analyst Justin Post lowered the firm’s price target on eBay (EBAY) to $46 from $52 and keeps a Neutral rating on the shares ahead of the company reporting Q3 results on November 7. The firm thinks eBay will likely meet Street Q3 estimates given traffic trends and Mastercard’s (MA) comments on spending in Europe holding up, but for Q4 its view is “slightly below” the Street and the firm lowered its non-GAAP EPS forecast for 2024 to $4.57 from $4.77 on less aggressive stock buybacks in its model.