EBay: share price falls, analyst downgrades his opinion

(CercleFinance.com) - The stock is down more than 3% on Wall Street, penalized by the analysis of Jefferies.
The analyst announced on Tuesday that he had downgraded his opinion on eBay from 'hold' to 'underperform', while reducing his price target for the stock from $60 to $52.

In a research note, the financial intermediary said he was concerned about the combined effect of slowing advertising revenues and marketing investments made to revive flagging growth.

From its point of view, the difficulties encountered in China are a further cause for concern and pose an additional risk to the online retailer's performance.

According to Jefferies, the valuation multiples on which the stock is currently trading cannot be considered sustainable in view of the auction specialist's growth prospects.

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