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Fly News Breaks for July 19, 2018
EBAY
Jul 19, 2018 | 09:33 EDT
RBC Capital analyst Mark Mahaney lowered his price target on eBay $47 after its mixed Q2 results, saying the company's marketplace and StubHub gross merchandise volume trends were soft because of a "limited impact" from its marketing initiatives and weak ticket markets. The analyst keeps his Outperform rating, albeit with a "less constructive" stance, noting that eBay can accelerate GMV growth in U.S. and Europe to high-single digits and also generate new revenue from intermediated payments through its Ayden partnership. Mahaney also notes that eBay can further ramp up its stock buybacks to boost EPS growth.
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