eBay upgraded to "outperform"

01/18/08 - Bear Stearns

NEW YORK, January 18 (newratings.com) - Analyst Robert S Peck of Bear Stearns upgrades eBay Inc (EBAY) to "outperform." The target price is set to $36.

In a research note published yesterday, the analyst mentions that investor concerns over the company’s structural condition, overall recession and competition from Amazon appear to be overblown. eBay’s long-term issues are resolvable and the company’s business is counter cyclical to an extent, the analyst says. eBay reporting in-line 4Q results, a new fee structure for sellers in the forthcoming week and the issuance of higher-than-expected EPS guidance for 2008 could act as catalysts for the company’s share price in the near term, Bear Stearns adds.