eBay Share Underestimated
The pendulum of negative sentiment has swung too far on shares of eBay, as investors are now exaggerating the stock’s risk, according to a Tuesday report from Bear Stearns.
The research firm currently has an “outperform” rating on eBay (nasdaq: EBAY – news - people ) with a $33 target price.
“With the stock now 47% off its highs, we think the many risks we have cited are now accounted for in the stock price,” said Robert Peck, an analyst at Bear Stearns.
“We think third quarter data will shed some light on the future growth track [and] we recommend the stock for the long-term, patient investor.”
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