EBay up, price target raised

January 2, 2013

Canaccord Genuity raised its target price on the online auction site's shares to 56 from 50 and said EPS in '13 could hit $3 on a "breakout" by PayPal. The analyst said eBay's Q4 results would be "solid." He says fixed-price gross merchandise value will be key for eBay (EBAY) in '13."We believe there is still room for modest earnings upside," he wrote. Shares rose 5.1% to 53.59.