Morgan Stanley lowered the firm’s price target on eBay to $32 from $34 and keeps an Underweight rating on the shares. Better-than-expected Q3 GMV growth was “overshadowed” by Q4 guidance for GMV to decelerate on the back of a broad-based consumer weakening, the analyst tells investors. Adjusted EBIT margin is likely to decline again in Q4 as eBay continues to invest to attempt to grow GMV, the analyst added.
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