Truist raised the firm's price target on eBay (EBAY) to $105 from $94 and keeps a Hold rating on the shares. The company's better Q1 results and Q2 guidance reflect the management's sustained execution against initiatives aimed at driving gross merchandise volume growth while protecting free cash flows and returning capital to shareholders, the analyst tells investors in a research note. Truist adds that GameStop (GME) bid for eBay is not likely to be successful as it requires about $20B of debt financing to bridge the valuation gap.
