eBay price target raised to $58 from $53 at Argus

Argus raised the firm’s price target on eBay to $58 from $53 and keeps a Buy rating on the shares. Following the 2015 PayPal spinoff, and the sale of StubHub, the Classifieds business, and other assets, eBay has become a more focused e-commerce retailer, the analyst tells investors in a research note. The company is working to strengthen the eBay Marketplace platform through a blizzard of new features and enhancements centered on improving the user/seller experience, including new seller tools underpinned by generative AI models, and this transformation effort is also focused on product categories that produce the main share of gross merchandise volume, the firm added.