eBay price target raised to $62 from $58 at Truist

Truist raised the firm’s price target on eBay (EBAY) to $62 from $58 but keeps a Hold rating on the shares. The company’s Q3 results last week were slightly ahead of muted expectations, reflecting the management’s slow but steady progress towards repositioning eBay for sustainable GMV – gross merchandise volume – growth, but a mixed Q4 guide reflects a challenging macro backdrop and growth initiatives that are still taking hold, the analyst tells investors in a research note.