eBay: Wedbush initiates coverage on hold

(CercleFinance.com) - Wedbush initiates coverage of eBay with a 'neutral' rating and $70 target price, deeming the stock's risk/reward ratio as 'balanced' and believing that downside risk is minimal for near-term figures.


Management has succeeded in stabilizing GMV growth after a period of volatility and negative post-pandemic growth, the broker says, which sees eBay positioning itself for long-term sustainable growth through multiple initiatives.

While it has a positive view of the long-term strategy, FCF dynamics and capital allocation approach, Wedbush sees few near-term catalysts to drive higher estimates or a significant inflection in growth.


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