What does Wall Street think of eBay latest round of changes? The following are excerpts from analyst reports issued on Tuesday after eBay's announcement.

Imran Khan of JPMorgan Chase & Co
"Price discrimination. We think the new fees improve eBay's ability to price-discriminate between casual sellers - who are unlikely to manage to a selling margin and thus less responsive to every penny of Final Value Fees - and professional sellers with a greater focus on margins and listings costs. We think the company also expects larger sellers to offer a more consistent buyer experience. We think the new structure could put some pressure on the middle of the curve: sellers who sell regularly but not in enough volume for the discounts to kick in."

Colin Sebastian of Lazard Capital Markets LLC
"We expect a big shift to fixed price, fewer auctions. With fee changes that appear to favor fixed price over auctions, and professional sellers over casual sellers, we expect a further shift in the format and seller mix. eBay is also phasing out the Store Inventory Format, which will increase listings on the core site, and highlights the need for eBay to improve site search."

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