Evercore Partners Resumes Yahoo! (YHOO) at Hold
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Rating Summary:
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Up: 13 | Down: 11 | New: 11
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Evercore Partners resumes coverage on Yahoo! (NASDAQ: YHOO) with a Hold rating and a price target of $50.00.
Analyst Ken Sena said, "We are resuming coverage on Yahoo where we have been restricted as result of Evercore's involvement in the recent Alibaba IPO. The valuation we assign is $50 which considers several valuation scenarios. These scenario outcomes, based on whether Yahoo’s 15% ownership of Alibaba is tax-effected and whether we see acceleration within certain segments of Yahoo’s core sustainably (including mobile, native ads, social, and video) point to a rather wide range of outcomes, namely $34-$72 per share. As result, while we settled on a target value that fully tax-effects Yahoo’s current stake in Alibaba ($32/sh) and does not give additional credit for core improvements, we recognize the potential value of both towards driving share upside."
For an analyst ratings summary and ratings history on Yahoo! click here. For more ratings news on Yahoo! click here.
Shares of Yahoo! closed at $45.87 yesterday.
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