Deutsche Bank Reiterates eBay Sell Rating (EBAY)

Deutsche Bank reiterated its eBay

Sell rating in a research report published today. In the report, Deutsche Bank states, "While eBay expects $13-$15bn in 2013 revs, we think the company's target embeds robust GMV growth in the marketplaces business. However, marketplaces GMV has shrunk since 2008 (excl. Gmarket) and there appears to be little evidence that growth can accelerate for GMV. PayPal remains a growth asset, yet again marketplaces operating profits (75% mix) are too significant to meaningfully grow as the company anticipates." Shares of eBay were at $34.40 in after hours trading, down 0.26% from Thursday's market close.