Morgan Stanley (NYSE:MS) Says eBay (Nasdaq:EBAY) Sell-Off Overblown

Commenting on the recent sell-off of eBay (Nasdaq:EBAY) shares, Morgan Stanley (NYSE:MS) analyst Scott Devitt said the shares have been over sold and recommends acquiring shares at this time.

DeVitt said, “eBay’s turnaround is on track and (we) are buyers as eCommerce trends have exceeded expectations this holiday season and could act as a catalyst into eBay’s February analyst day."

Most of this is in relationship to government interference via new regulations in the debt card segment, as new rule regarding interchange fees were put in place.

DeVitt recommended investors to focus on PayPal's positive trends and the mobile operations of the company, rather than the new fees.


Morgan Stanley has eBay as a "Long-Research Tactical Idea." eBay was trading at $28.79, up $0.14, or 0.49 percent, as of 12:12 PM EST.