eBay price target raised to $58 from $50 at Truist

Truist raised the firm’s price target on eBay to $58 from $50 and keeps a Hold rating on the shares. EBay’s Q2 results were slightly ahead of “muted” Street expectations, reflecting management’s slow but steady progress towards repositioning eBay for sustainable mid-single digit Gross Merchandise Value growth, the analyst tells investors in a research note. Guidance for Q3 reflects a challenging macro and growth initiatives that are still taking hold, while Q4 commentary points to positive GMV growth, Truist says.