BofA lowered the firm’s price target on eBay (EBAY) to $71 from $72 and keeps a Neutral rating on the shares. GMV grew 3% in constant currency, an acceleration from 1% in Q3, though Q1 guidance “underwhelmed,” the analyst tells investors. The full year outlook implies revenue acceleration after Q1, notes the analyst, who is slightly lowering top line estimates, but raising the firm’s EPS forecast.
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