Despite a strong start to the holiday shopping season, Stifel Nicolaus is bearish on this fan favorite.
In a note out Monday analyst Jordan Rohan cut his rating on eBay to Hold from Buy citing a string of reasons including lofty valuations after a recent 30% run.
He’s also concerned about:
-Lack of upward earnings momentum
-Continued share loss at the Marketplaces segment
-Margins at Paypal
-Seasonal trade has run its course
Rohan is not adjusting his estimates, but sees little upside to his EPS estimates of $1.86 and $2.16 for 2011 and 2012.
Should you make like the Grinch and turn a cold should on eBay? Don’t make a move until you check out our interview with Rohan. Watch the video now!
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