UPDATE: Citigroup Downgrades eBay to Neutral

Citigroup lowers its rating on eBay EBAY to Hold on less attractive risk/reward. Citigroup notes, "With EBAY approaching our $39 price target, we see the risk-reward as less compelling. We do view the recent share price surge as well justified and, therefore, would be buyers of the stock on any material pullback, all else held equal." EBAY closed at $37.69 a share on Friday.