Goldman Sachs Resumes eBay (EBAY) at Conviction Buy

Goldman Sachs resumes coverage on eBay (NASDAQ: EBAY) with a Conviction Buy List rating and $40 price target.

The firm said eBay offers the "best risk/reward in the Internet sector given attractive valuation relative to the company's assets and opportunities."

Goldman notes that eBay spent 4 years fixing its neglected technology infrastructure. These investments and acquisitions will allow the company's Marketplaces business to "exceed investors' modest expectations over the coming years," they said.

In addition, eBay's PayPal franchise is underestimated and the company is in a position to benefit from the rapidly converging "in the aisle" area of retail.

For an analyst ratings summary and ratings history on eBay click here. For more ratings news on eBay click here.

Shares of eBay closed at $30.84 yesterday.

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