EBay lands buy rating from Deutsche Bank with new markets highlighted
Deutsche Bank started off coverage on eBay (NASDAQ:EBAY) with a Buy rating on its view that the online retailer's positioning in the resale market and other new markets is being underappreciated by investors.
The firm pointed to growth in eBayâs luxury resale business across the core European markets, as well as eBay's (EBAY) expansion into the auto parts and accessories markets. It was noted that potential may not have been included in eBay's recent guidance update.
âWe believe the numbers screen as highly conservative and now reflect a worst-case outcome... We believe it is more likely that 2H22 growth comes in ahead of expectations."
Shares of EBAY rose 0.42% premarket to $52.31. Deutsche Bank assigned a price target of $64 to EBAY vs. the 52-week trading range of $49.53 to $81.19.