eBay price target raised to $68 from $62 at Truist

Truist analyst Youssef Squali raised the firm’s price target on eBay (EBAY) to $68 from $62 and keeps a Hold rating on the shares. The company’s Q1 results and Q2 guide came in ahead of muted expectations despite the uncertain macro backdrop, reflecting traction with on-going growth initiatives and the company’s relatively insulated position vis-a-vis tariffs, the analyst tells investors in a research note. eBay is investing in Focus Categories and in ads to improve growth while protecting margins, though the firm continues to find the stock fairly valued at 13.1-times expected earnings, Truist adds.