eBay price target raised to $70 from $63 at Argus

Argus raised the firm’s price target on eBay (EBAY) to $70 from $63 and keeps a Buy rating on the shares. eBay is looking to build new revenue streams in payments, advertising, cross-border shipping, and even live-event shopping, but while it invests in product innovation and tuck-in M&A – all aimed at improving experience – the management is also showing good cost discipline and margin expansion, the analyst tells investors in a research note.