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Fly News Breaks for February 21, 2020
EBAY
Feb 21, 2020 | 07:52 EDT
Wells Fargo analyst Brian Fitzgerald maintained an Underweight rating and $32 price target on eBay (EBAY) following the company's completion of its sale of StubHub for $4.05B in cash. While the analyst noted that proceeds were "modestly higher" than his prior assumption of $2.95B and he is also "encouraged" by management's more aggressive 2020 share repurchase outlook of $4.5B in stock, he still has concerns regarding "Marketplace growth/margin prospects" and the "potentially limited value creation opportunities for Classifieds."
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