Wedbush Downgrades GSI To Neutral

Wedbush has removed GSI Commerce (NASDAQ: GSIC) from the Best Ideas List and downgraded GSIC from Outperform to Neutral.

According to Wedbush, "The Wedbush Investment Committee is removing GSI Commerce from the Best Ideas List, and we are downgrading to NEUTRAL as a result of the acquisition bid by eBay. GSI Commerce was added to the Best Ideas List on December 1, 2010, at $23.9… Given that we do not expect additional suitors to emerge, we are lowering our price target to eBay's offer price of $29.25/share, down from $33."

GSIC has a $29.25 Price Target and closed at $29.20 yesterday.