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Stifel upgraded the online e-commerce website and said it would be a "direct beneficiary" of store closings.to Buy from Hold. Stay-at-home directives and widespread retail store closures have shifted a substantial portion of consumer spending online. Third party data indicates eCommerce sales have accelerated dramatically beginning in March with strong momentum continuing through April.
eBay is a direct beneficiary of the current landscape and we see upside to near-term topline results as competing platforms temporarily prioritize food and household necessities and consumer demand for items desired for work and education in the home inflect higher."Bernstein downgraded the stock as the companyfrom Outperform to Market-Perform given increased near-term uncertainty around the company's ability to maintain production levels amidst plant closures and worker absenteeism.
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