EBAY (eBay): DB Reiterates SELL on Weak Economy, Model Transition

DB reiterates SELL on eBay (EBAY) based on decelerating ecommerce/ consumer spending environment, overhaul of the business model, execution risk and structural issues creating significant near-term risk. “While quite a few of the underlying metrics/drivers are now becoming inconsequential (due to fee changes), creating uncertainty for investors, we think that seller feedback appears mixed, with some seeing a business uptick & others experiencing weakness.”

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