Citi calls eBay one of the more likely takeover targets

Citi analyst Mark May calls eBay (EBAY) one of the more likely targets in his coverage universe. Following the company's recent business turnaround, a buyer with interest would likely want to get ahead of a potential beat and raise cycle, May tells investors in a research note. He believes a "wide range of companies" could have an interest in acquiring eBay, including foreign e-commerce companies like Alibaba (BABA), digital media companies interested in adding transactional capabilities like Alphabet (GOOG, GOOGL), retail names looking to strengthen their digital footprint like Wal-Mart (WMT), and private equity firms. May says eBay is the "often forgotten about large-cap Internet company." He keeps a Buy rating on the shares with a $34 price target. The stock closed yesterday up 19c to $30.68.