Topeka Reiterates Hold On eBay Ahead Of iPhone 6 Release
In a research note published today, Topeka Capital analyst Victor Anthony reiterated a Hold rating on eBay, Inc. (NASDAQ:EBAY) with a price target of $54. This report was issued ahead of the iPhone 6 release by Apple (NASDAQ:AAPL).
Anthony notes: “There is speculation that Apple could adopt NFC (Near- Field Communications) in the iPhone 6 along with a payments solution, and thus give Apple a presence at the point-of-sale with retailers. This has the potential to disrupt PayPal’s own ambitions at the POS, which today has had a difficult time gaining traction. We understand that eBay’s position is that Apple could expand the number of retailers with NFC and thus open up the opportunity for PayPal. While that could be true, we find it hard to see Apple users using PayPal over what could be Apple’s option. PayPal could off course partner with Apple.”
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Victor Anthony has a total average return of 24.8% and a 85.6% success rate. Anthony has a 0.3% average return when recommending EBAY, and is ranked #15 out of 3290 analysts.