eBay price target raised to $47 from $45 at Wells Fargo

Wells Fargo raised the firm’s price target on eBay to $47 from $45 and keeps an Equal Weight rating on the shares. The firm is also raising estimates modestly to reflect better trends, offset by stronger USD. Shares are likely to remain well bid through expected Q2 disclosure of uses for Adevinta stake sale. Wells would need material gross merchandise volume trend improvement to become more constructive on shares.