BMO Capital upgraded eBay (EBAY) to Outperform from Market Perform with a price target of $102, up from $70. The firm sees the company’s focus categories accelerating growth and driving upside to fiscal 2025 estimates. Focus categories grew 10% year-over-year in Q2, an acceleration from 6% in Q1, the analyst tells investors in a research note. BMO also believes eBay’s advertising opportunity is meaningful and remains early.
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