eBay: Wedbush initiates coverage on hold
(CercleFinance.com) - Wedbush initiates coverage of eBay with a 'neutral' rating and $70 target price, deeming the stock's risk/reward ratio as 'balanced' and believing that downside risk is minimal for near-term figures.
Management has succeeded in stabilizing GMV growth after a period of volatility and negative post-pandemic growth, the broker says, which sees eBay positioning itself for long-term sustainable growth through multiple initiatives.
While it has a positive view of the long-term strategy, FCF dynamics and capital allocation approach, Wedbush sees few near-term catalysts to drive higher estimates or a significant inflection in growth.
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The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
Management has succeeded in stabilizing GMV growth after a period of volatility and negative post-pandemic growth, the broker says, which sees eBay positioning itself for long-term sustainable growth through multiple initiatives.
While it has a positive view of the long-term strategy, FCF dynamics and capital allocation approach, Wedbush sees few near-term catalysts to drive higher estimates or a significant inflection in growth.
Copyright (c) 2024 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.