eBay price target raised to $88 from $87 at TD Cowen

TD Cowen analyst John Blackledge raised the firm’s price target on eBay (EBAY) to $88 from $87 and keeps a Hold rating on the shares. The company’s Q1 results were solid, comprising gross merchandise value, revenue, and EPS beats, and helped by accelerating growth within Focus Categories, the analyst tells investors in a research note. The firm adds however that eBay’s operating margin guide was a touch below as the management continues to reinvest in growth initiatives.