"We are initiating coverage of eBay with a Buy rating and a 6-12 month price target of $100. eBay displays all of the characteristics of an Internet category leader: a huge market opportunity, significant competitive barriers, an increasing returns business model, and a massive, loyal and growing customer base." Quote from DLJ.
The four big firms that have recently pushed this stock up with recommendations (DLJ,Goldman,BT Alex Brown, and Robertson Stephens) were the four lead underwriters on the offering. Based on past experience, this at least calls into question their objectivity. Now that all four of these folks have issued reports who is going to move this higher?
As I stated before, I am short this stock. I obviously should have waited for DLJ to join the others with its recommendation before shorting. However, I would be more concerned if an established firm not involved in the offering (say Merrill Lynch or Lehman) came out with a strong buy.