Needham & Company Downgrades Yahoo! (YHOO) to Hold
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Needham & Company downgraded Yahoo! (NASDAQ: YHOO) from Buy to Hold.
Analyst Laura Martin commented, "We are downgrading YHOO to Hold from Buy because: 1) YHOO now trades above our previous $40/share target price; 2) We worry that VZ will walk away or renegotiate its acquisition price lower owing to a 2014 hacking event that YHOO had not disclosed; and 3) We lower our FY16 fundamental outlook and lower estimates."
Shares of Yahoo! closed at $41.79 yesterday.
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