Google, eBay Receive Positive Analysts' Notes; Best Buy Downgraded

In Friday’s Analysts' Actions, TheStreet highlights upbeat comments on Google (GOOGL) and eBay (EBAY), along with a downgrade on Best Buy (BBY). Analysts at Axiom, Deutsche Bank, and Piper Jaffray all issued positive comments on Google following the search engine’s strong second quarter earnings results. Axiom upgraded the stock to BUY from HOLD. Deutsche Bank raised its price target to $780 from $670. And, Piper Jaffray increased its price target to $723 from $631. A different story for Best Buy, as analysts at Bank of America/Merrill Lynch downgraded the electronics retailer by two notches to UNDERPERFORM from BUY. And it’s a big day for eBay. The online auction site officially splits with its PayPal (PYPL) division. Jefferies hiked its price target to $61 from $58, following eBay’s solid last earnings report with before the separation. TheStreet's Kurumi Fukushima reports in New York.