EBay Gets a Lift After Stifel Raises Rating To Buy

EBay Inc. shares rose Monday by 1.2% to $55.49 after Stifel Nicolaus analyst Scott Devitt raised his rating on the e-commerce company to buy from hold. In a research note, Devitt called eBay "the real deal in the U.S. e-commerce sector," and said that the company's upcoming spinoff off of its PayPal payments business "could be a significant catalyst for its [eBay's] shares." Devitt said he also anticipates eBay seeing improvements in its core marketplaces business in the coming year. Additionally, Devitt set a price target on eBay's stock of $65.