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Technology Stocks : eBay - Superb Internet Business Model -- Ignore unavailable to you. Want to Upgrade?

To: rogermci® who wrote (6670)	11/20/2000 10:16:44 AM
From: Dan Hamilton	Read Replies (2) \| Respond to of 7772

Well Lehman has given you a good opportunity to get in cheap... RESEARCH ALERT - Lehman cuts eBay to neutral NEW YORK, Nov 20 (Reuters) - Lehman Bros. analyst Holly Becker on Monday said she lowered her rating on shares of online auctioneer eBay Inc. (NASDAQ: EBAY) to neutral from buy. Becker wrote in a research note that although she believes eBay is "one of the most valuable franchises on the Internet," the company's "aggressive 2005 sales projections have raised a red flag." Becker also said she is concerned that eBay's core business is slowing and that newer initiatives will take time and more money to build out than current estimates reflect. Becker said she had believed that a slowing in eBay's business would prime it for being acquired at an attractive price, but given the recent share declines of its potential acquirers, America Online Inc. (NYSE: AOL) and Yahoo! Inc. (NASDAQ: YHOO) a buyout seemed unlikely. "Furthermore, eBay, which has held up relatively well versus other leading Internet companies, has little valuation support," Becker wrote. Shares of eBay, which have fallen more than 40 percent since late September, closed at $43-7/16 on the Nasdaq stock market on Friday. Its 52-week low is $40-9/16.