Reuters: Global Markets: EBay shares fall as analysts cut price targets

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EBay shares fall as analysts cut price targets Oct 17th 2013, 16:18 Tweet Share this Email Print Reprints Related Topics Tech » Hot Stocks » Asian Markets » Media » An Ebay logo is displayed on a monitor in this photo illustration in Encinitas, California, April 16, 2013. Credit: Reuters/Mike Blake Thu Oct 17, 2013 12:18pm EDT (Reuters) - EBay Inc shares fell as much as 6 percent on Thursday after the e-commerce company forecast a lackluster holiday quarter, prompting at least nine brokerages to cut share-price targets. Analysts cut their price targets by between $2 and $6, to as low as $56. EBay shares were trading at $51.54 at midday. EBay said on Wednesday that the U.S. economic environment and consumer confidence had deteriorated, in part because of the shutdown of the U.S. government. However, several analysts said they were awaiting results from Google Inc later on Thursday and Amazon.com Inc next week to get a better picture of the e-commerce market. EBay said it expects a profit of 79-81 cents per share for the holiday quarter, short of the 83 cents per share expected by analysts on average. Macquarie Equities Research analyst Ben Schachter said he expected eBay to face increasing competition from Google, Wal-Mart Stores Inc and China's Alibaba. (Reporting by Chandni Doulatramani in Bangalore) Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (1) yep here it comes everyone and their mother will be blaming their lackluster performance on the partial government shutdown. america has turned into the land of victims and excuses. no one is accountable. the world war vets would be embarrassed by what this nation has become. Oct 16, 2013 9:48pm EDT  --  Report as abuse See All Comments » Add Your Comment

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