eBay price target raised to $61 from $55 at Barclays

Barclays analyst Ross Sandler raised the firm’s price target on eBay to $61 from $55 and keeps an Overweight rating on the shares post the Q4 report. The shares are starting to look “too cheap to ignore again,” the analyst tells investors in a research note. Given the new outlook for positive growth and expanding margins with heavy capital returns, an 11-times earnings multiple is “overly punitive” and eBay shares “can grind higher from here,” says the firm.