eBay price target raised to $63 from $58 at Argus

Argus analyst Joseph Bonner raised the firm’s price target on eBay to $63 from $58 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. eBay CEO Jamie Iannone is also working to strengthen the eBay Marketplace platform through a continuous blizzard of new features and enhancements centered on improving the user/seller experience, including new seller tools underpinned by generative AI models, the firm added. eBay is also looking to build new revenue streams in payments, advertising, cross-border shipping, and, most recently, live-event shopping, Argus states.