MKM Partners Raises price Target on Yahoo! (YHOO) Ahead of 3Q Report
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MKM Partners reiterated a Buy rating on Yahoo! (NASDAQ: YHOO), and raised the price target to $51.00 (from $44.00), ahead of the company's 3Q earnings report. MKM believes that the earnings report will most likely be a "non-event" with the acquisition by Verizon (NYSE: VZ) pending.
Analyst Rob Sanderson commented, "YHOO will report Q3 earnings results tomorrow after the market close. Results will likely be a nonevent for the stock with the acquisition by Verizon (VZ, Not Rated) pending and there will not be a conference call. We are updating our price target to $51 (from $44), with the revision based entirely on the revaluation of BABA (BABA, Buy, $101.85, $130 PT) stock."
Shares of Yahoo! closed at $41.44 yesterday.
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