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MarketWatch
eBay stock price target cut at Stifel, citing currency pressures
Stifel has cut eBay Inc.’s price target to $60 from $62 amid currency pressures and headwinds in the online marketplace’s international business. “We are leaving our 2Q estimates relatively unchanged, however, due to devaluations of international currencies our estimates decline slightly,” wrote Stifel analyst Scott Devitt, in a note. “Our 2Q GMV estimate declines to $18,352mm (-18.8% y/y) and our revenue estimate declines to $2,382mm (-10.7% y/y), both remain in line with consensus expectations
