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In a report published Wednesday, Morgan Stanley analyst Katy L. Huberty initiated coverage on
eBay IncEBAY with an Underweight rating and $45.00 price target.
In the report, Morgan Stanley noted, “With 152M users on Marketplaces and 157M on Payments, eBay spin offers investors two scaled assets. However, we see near-term risk of a margin reset as the company corrects for underinvestment in its brands over the past five years. To the extent marketing investments begin to pay-off and/or PayPal shows progress in offline payments, we would become more constructive on the stock.”
eBay Inc closed on Tuesday at $51.20.
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