Wells Fargo raised the firm’s price target on eBay (EBAY) to $64 from $61 and keeps an Equal Weight rating on the shares following quarterly results. The firm highlights the mixed Q1 guide with gross merchandise value of $18.6B that was 1% below consensus, following healthy Q4 print. The company is struggling to put together consistently improving GMV growth quarters, Wells says. The firm sees the stock fairly valued until it can break out from low single digits GMV growth.
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