eBay price target raised to $75 from $65 at Bernstein

Bernstein raised the firm’s price target on eBay (EBAY) to $75 from $65 and keeps a Market Perform rating on the shares. The firm anticipates gross merchandise value upside vs. guidance once again, with healthy 2%-plus FxN GMV growth and currency tailwinds. Focus category growth remains core. The stock does have to contend with a higher bar, which Bernstein suspects has nudged up from 2%-3% GMV growth to 3%-plus looking forward, and keeps the firm on the sidelines.