eBay price target raised to $58 from $56 at Benchmark

Benchmark raised the firm’s price target on eBay to $58 from $56 and keeps a Buy rating on the shares. The company “finished off the year on a high note” by exceeding consensus “across the board” for Q4, but “more importantly” gave an outlook that called for a return to FX-neutral GMV growth in the back half of the year, the analyst tells investors. The forecast was largely in line with consensus’ thinking, if not maybe a touch ahead on GMV and margins, but “we suspect investors were probably betting on the under in terms of growth this year for eBay,” the analyst added.