Morgan Stanley Flips From EBay’s Biggest Bear to Top Bull on AI
- EBay rises after Morgan Stanley double-uprades to overweight
- Analyst touts pair trade with Etsy as valuation gap narrows
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EBay Inc.’s embrace of artificial intelligence has turned the stock’s most bearish analyst into its biggest fan, with Morgan Stanley seeing a further 25% gain for the shares over the next year.
“We believe eBay is best-positioned to capture upside from generative AI in 2024,” the bank’s analyst Nathan Feather wrote in a note, double-upgrading the stock to overweight. Feather’s new price target of $62, up from a previous $35, makes him the most bullish analyst on the Street, according to data compiled by Bloomberg.