eBay price target lowered to $61 from $62 at Morgan Stanley

Morgan Stanley lowered the firm’s price target on eBay (EBAY) to $61 from $62 and keeps an Overweight rating on the shares. eBay showed “solid execution across the board,” though “slightly below bulls’ hopes,” the analyst tells investors. eBay also guided to a slight uptick in the share repurchase plans, going from “at least” $2B to “just over” $2B, noted the analyst, who continues to propose a pair trade with Overweight eBay and Underweight Etsy (ETSY) on what it sees as “converging growth despite divergent multiples.”