Goldman Sachs Reiterates CL-Buy Rating on eBay on Multiple Positive Factors

In a report published Friday, Goldman Sachs analyst Heath P. Terry reiterated a Conviction List Buy rating and $63.00 price target on eBay (NASDAQ: EBAY).

In the report, Goldman Sachs noted, “We expect both PayPal and Marketplaces to continue to benefit from positive ecommerce and mobile trends and as business conditions improve on larger contributions from PayPal and cross border, modestly offset by the weaker macro environment in Europe. While the stock is flat on the year, significantly underperforming the group we believe the kind of accelerating growth that we have seen in the recent data out of ChannelAdvisor should drive outperformance in the back half of the year.”

eBay closed on Thursday at $53.18.