Fly News Breaks for July 18, 2019
EBAY
Jul 18, 2019 | 08:37 EDT
Benchmark analyst Daniel Kurnos said eBay reported "another quarter of underwhelming" gross merchandise volume, but the magnitude of the tailwind from promoted listings and intermediated payments drove a slight revenue beat and allowed management to maintain its organic, currency neutral revenue growth guidance. The analyst, who raised his price target on eBay shares to $50 from $45 following the earnings report, noted that his valuation does not factor in any asset sales, which he estimates could represent upwards of $10 per share in added value. Kurnos keeps a Buy rating on eBay shares.
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