Benchmark Maintains Hold Rating on eBay

According to Benchmark, eBay

Hold rating is reiterated. Benchmark said that eBay (EBAY-Hold, PT $37) is scheduled to report its 4Q11 results on Wednesday, January 18 after the stock market close. “eBay trades at 13x 2012E adjusted EPS, below ecommerce comparables at 25x and above the S&P 500 index at 12x our 2012E EPS of $107. We use a multiple of 16x 2012E EPS to arrive at our price target of $37 per share.” eBay closed on Friday at $30.62.