eBay downgraded to "hold"

23.04.08 - Stifel Nicolaus

NEW YORK, April 23 (newratings.com) - Analyst Scott Devitt of Stifel Nicolaus & Company downgrades eBay Inc (EBAY) from "buy" to "hold." The fair value is set to $35.

In a research note published this morning, the analyst mentions that despite recent site changes, the company?s slowing core growth would be tough to reverse. eBay?s decelerating organic growth may also be challenging to reverse due to slowing growth at Skype and PayPal, the analyst says. Although Amazon addresses a larger long-term market opportunity than eBay does, the former company?s stock trades at a 25% discount in market capitalization, Stifel Nicolaus & Company adds.