eBay price target lowered to $48 from $49 at JPMorgan

JPMorgan lowered the firm’s price target on eBay to $48 from $49 and keeps a Neutral rating on the shares. The company reported a “healthy” Q2 with continued momentum in focus categories and advertising, with all key metrics coming in at or above the high end of guidance, the analyst tells investors in a research note. However, the firm believes near-term macro uncertainty and the margin compression expected for 2023, coupled with additional execution risk on eBay’s next phase, warrant some caution.