Canaccord Genuity Maintains a 'Hold' on Yahoo! (YHOO); Q2 Results and Q3 Guidance Fall Short
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Price: $26.33 +1.19%
Rating Summary:
14 Buy, 21 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Rating Summary:
14 Buy, 21 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Trade YHOO Now!
Canaccord Genuity maintains a 'Hold' on Yahoo! (NASDAQ: YHOO), PT lowered to $14.
Canaccord analyst, Heath Terry, said, "The company provided little additional detail on plans for its non-operating assets. Given the uncertainty around those assets, the company’s inability to drive user engagement, and the direction of the search business, we expect YHOO to continue to underperform...Our 2011 estimates go from revenue/pro forma EPS of $4,459M/$0.85 to $4,357M/$0.79, while our 2012 estimates go from $4,429M/$0.90 to $4,253/$0.85. Based on our sum-of-the-parts, our price target goes from $16 to $14, or 4.2x ‘12E EV/EBITDA on the core business plus $7 per share in additional asset value."
For more ratings news on Yahoo! click here and for the rating history of Yahoo! click here.
Shares of Yahoo! closed at $14.59 yesterday, with a 52 week range of $12.94-$18.84.
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Canaccord analyst, Heath Terry, said, "The company provided little additional detail on plans for its non-operating assets. Given the uncertainty around those assets, the company’s inability to drive user engagement, and the direction of the search business, we expect YHOO to continue to underperform...Our 2011 estimates go from revenue/pro forma EPS of $4,459M/$0.85 to $4,357M/$0.79, while our 2012 estimates go from $4,429M/$0.90 to $4,253/$0.85. Based on our sum-of-the-parts, our price target goes from $16 to $14, or 4.2x ‘12E EV/EBITDA on the core business plus $7 per share in additional asset value."
For more ratings news on Yahoo! click here and for the rating history of Yahoo! click here.
Shares of Yahoo! closed at $14.59 yesterday, with a 52 week range of $12.94-$18.84.
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