Goldman Sachs Updates On EBAY-GSI Merger

Goldman Sachs has issued an update on the implications of the eBay

acquisition of GSI Commerce

. According to the report, "We view the strategic rationale for this transaction as primarily intended to enable eBay to better serve offline retailers selling online, mostly through GSI's infrastructure and to a lesser extent eBay's marketplaces. Most of GSI's merchants already accept PayPal." EBAY has a Neutral Rating and a $32.00 Price Target. EBAY closed at $30.34 yesterday.