Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Bloomberg Customers

Markets & Finance

Citigroup Downgrades EBay to 'Sell'

Citigroup downgraded Internet auction giant eBay (EBAY) to sell from neutral.

Analyst Lanny Baker says he's concerned about eBay Motors, the company's largest auction category. He notes the motors group has propelled 35% to 40% of growth in eBay's gross merchandise sales in the last two years, and now accounts for 28% of gross merchandise sales.

A survey of 150 used car dealers suggests that while 30% of used-car dealers in the U.S. are using eBay Motors, about 40% found eBay's prices and auction format to be a drawback. In particular, Baker says the motors' group pricing model is problematic; he's skeptical of its ability to raise prices without broader pricing model changes. Baker sees a downside risk to $48.

blog comments powered by Disqus