eBay downgraded to Market Perform from Outperform at Bernstein

Bernstein downgraded eBay (EBAY) to Market Perform from Outperform with a price target of $65, down from $70. The firm says the operating environment for e-commerce has changed, as the data it tracks softened through Q1, while tariffs further “exacerbate the risks.” eBay’s China sourced inventory is still an area of concern near-term, and an economic downturn could undermine the company’s “self-help progress,” the analyst tells investors in a research note.