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Fly News Breaks for September 4, 2019
EBAY
Sep 4, 2019 | 05:38 EDT
UBS analyst Eric Sheridan downgraded eBay to Neutral from Buy with an unchanged price target of $42. The shares closed yesterday at $39.74. The stock is up 44% year-to-date and within 4% of the price target, Sheridan tells investors in a research note. The analyst believes the shares now better reflect the value of eBay's underlying assets, or Marketplace, StubHub and Classifieds. Further, at current levels, expectations for a potential spin-off of eBay's noncore assets, Classifieds Group and/or StubHub, are largely priced in, says Sheridan.
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