eBay price target raised to $65 from $64 at Citi

Citi raised the firm’s price target on eBay to $65 from $64 and keeps a Buy rating on the shares. The company reported a strong Q2 as gross merchandise volumes, revenue, margins, and earnings came in above expectations, but the increase in buyback guidance was below investor expectations, the analyst tells investors in a research note. The firm says eBay’s gross merchandise volume returned to growth early and while Q3 guidance implies a step down, it “feels conservative.” Citi sees the quarter as a proof point that the company’s investments are paying off across the marketplace, while still weighed down by a challenging macro environment.