eBay upgraded to "overweight"

25.05.06 - Prudential Financial

NEW YORK, May 25 (newratings.com) - Analyst Mark J Rowen of Prudential Financial upgrades eBay Inc (EBAY) from "neutral weight" to "overweight." The target price is set to $40.

In a research note published this morning, the analyst mentions that the upgrade in the rating is based on valuation, following the significant decline in the company's share price year-to-date. According to the analyst, eBay's share price has declined due to investor concerns regarding inflation, high interest rates, spiraling oil prices and weak consumer spending trends. The company's long-term growth outlook remains intact, Prudential Financial adds.