eBay price target raised to $68 from $65 at Citi

Citi analyst Ygal Arounian raised the firm’s price target on eBay (EBAY) to $68 from $65 and keeps a Buy rating on the shares. The company reported Q3 results ahead of expectations, but the Q4 guidance was “somewhat mixed,” mostly related to a strategic investment in the UK, the analyst tells investors in a research note. The firm says the investment around consumer-to-consumer commerce will impact revenue and take rate in the near-term, but should neutralize in early 2025, and can prove to be accretive to gross merchandise volume and revenue eventually.