Stifel Nicolaus and Lazard both have positive reports out on eBay after yesterday's earnings.
Stifel is upgrading the stock to Buy and Lazard is reiterating its Buy, upping its price target to $40 from $38.
Here's what's so great about eBay:
- The core marketplace business is growing nicely. The marketplace grew 10%, which is very good in a maturing business.
- Margins are good. They're up from last quarter and are generally good.
- PayPal is still a phenomenal business. The day when eBay will be a PayPal company and not the other way around isn't too far.
In other words, forget the idea that eBay is a rocketship, but it's still a good business that is disciplined and growing well. "Steady as she goes," says Stifel.
Related: Meet The New eBay →
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