Deutsche Bank analyst Kunal Madhukar upgraded eBay to Buy from Hold with a price target of $57, up from $42. The stock closed Thursday up 63c to $49.40. Deutsche’s survey suggests new buyers on the eBay platform have had a positive experience, with over 40% stating they are “very likely” to make a purchase over the next six months, and another ~20% saying they are “somewhat likely,” Madhukar tells investors in a research note. Further, the analyst views consensus estimates for eBay as “extremely conservative” and thinks the full benefit of the Payments business is not yet completely incorporated into the numbers. The shares are attractive relative to the S&P 500 and retail stocks on a price-to-earnings multiple, and the valuation becomes even more attractive when factoring in the potential for share repurchase post the Classifieds sale, says Madhukar.