It seems that online auction site eBay is catching a bid, where it matters most.
On Tuesday, Think Equity analyst Aaron Kessler upgraded the stock to ‘Buy’ from 'Hold’ and raised his price target to $38 from $36.
Kessler is bullish on two fronts – PayPal and the marketplace business.
Looking at the strength online Kessler says, ” We believe continued improvement in the U.S. Marketplace business as well as stable Europe Marketplace growth could serve as a catalyst for shares.”
And looking at Paypal, he says, "While we think increased apprehension over Payments competition has been a concern recently, we believe that PayPal's leadership position, with nearly 100 million active accounts and strong technical expertise provides PayPal with an early advantage.”
Hear more from Kessler in our exclusive interview. Watch the video now!