Piper Sandler analyst Thomas Champion raised the firm’s price target on eBay (EBAY) to $102 from $95 and keeps an Overweight rating on the shares. The firm notes Q3 results were very strong across the board, with gross merchandise value growth accelerating over 4% to +8% year-over-year constant currency and the U.S. accelerating to 13%. Focus category investment appears to be paying off. Piper likes the improving fundamentals, and management is now able to reinvest more profit dollars to grow top-line.
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