Needham & Company Downgrades Yahoo! (YHOO) to Hold

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."

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 $41.79 yesterday.

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