eBay price target lowered to $62 from $63 at Wells Fargo

Wells Fargo analyst Ken Gawrelski lowered the firm’s price target on eBay (EBAY) to $62 from $63 and keeps an Equal Weight rating on the shares. The Q4 Gross Merchandise Volume guidance was in line with estimates, but included more take rate pressure than expected, as the U.K. C2C fee changes impact results, Wells says. The firm is looking for signs of sustainable growth in order to become more constructive.