Shares of eBay Inc. are down 0.8% in Tuesday morning trading, though analysts at BMO Capital Markets upgraded the stock to outperform from market perform. The analysts, led by Daniel Salmon, think that the company’s “promoted listing” product is doing better than expected due to its recent launch in several key international markets, including Canada. Salmon also believes that consensus estimates for eBay’s gross merchandise volume will rise as a result of the company’s new marketing campaign and its investments in machine learning. Finally’s he’s upbeat on eBay’s launch of a new site in China. He raised his target price to $45 from $40. eBay shares have gained 25% so far in 2017, compared with a 19% gain for the S&P 500 .
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
From:: Stock Market News