With PayPal set to split from eBay Inc. and begin trading around July 6, J.P. Morgan Chase analysts have "modestly" increased their target price for eBay to $64 from $60. J.P. Morgan analyst Doug Anmuth wrote in a note on Monday that the slight raise is to account for both PayPal's and eBay's valuation might look like following the split. Anmuth said he has a valuation of $38 billion on PayPal with a $44 billion market cap and a post-spin stock price of $36. His valuation of eBay sits a little lower at $30 billion, with a market cap of $33 billion. Anmuth is expecting eBay to trade at $29 after the split. Ebay shares opened at $60.66 on Monday, according to FactSet, and were up 8% in the year-to-date.
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