Credit Suisse First Boston
cut its rating on
to buy from strong buy.
CSFB analyst Heath P. Terry said the 17% rise in eBay's shares following the announcement of its positive revenue forecasts of $3 billion in 2005 was overdone, and that the upside in eBay's shares was limited. The research note also said revenue objectives may underestimate potential growth at the company's recently acquired
, an online trader the company bought in July, and opportunities in international markets.
Terry set a 12-month price target of $90, a 17.6% premium over the company's current share price. Also, he set its 2000 EPS view at 15 cents a share and its 2001 EPS view at 32 cents.