UPDATE: Compass Point Upgrades eBay to Buy on Good Market Position

In a report published Tuesday, Compass Point analyst Douglas Greiner upgraded the rating on eBay (NASDAQ: EBAY) from Neutral to Buy, and reiterated the $63.00 price target.

In the report, Compass Point noted, “We upgrade our rating from Neutral to Buy. eBay is remarkably well positioned to benefit from the structural shift in retail to omnichannel solutions. Management expects ECV to increase from $175 billion in 2012 to ~$300 billion in 2015 with mobile ECV growing 3x faster than overall ECV. The company targets 15-19% compound annual Adjusted EPS growth through 2015. We see the recent broader market turbulence as an opportunity to again re-visit owning the shares.”

eBay closed on Monday at $53.41.