eBay price target raised to $70 from $63 at BMO Capital

BMO Capital analyst Brian Pitz raised the firm’s price target on eBay (EBAY) to $70 from $63 and keeps a Market Perform rating on the shares. The company continues to execute with a clean Q1 earnings beat across the board and Focus Category growth of 6% y/y, the analyst tells investors in a research note. As consumers seek higher value, eBay is seen as the platform of choice, the firm adds.