Oppenheimer Remains Bullish on Yahoo! (YHOO) - PT Cut to $54

October 19, 2016 9:52 AM EDT
Get Alerts YHOO Hot Sheet
Price: $42.11 +0.19%

Rating Summary:
    20 Buy, 26 Hold, 5 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 22 | Down: 32 | New: 34
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Oppenheimer maintained an Outperform rating on Yahoo! (NASDAQ: YHOO), and cut the price target to $54.00 (from $55.00), following the company's 3Q earnings report.

Analyst Jason Helfstein commented, "We are reiterating our Outperform rating, but modestly decreasing our PT from $55 to $54, reflecting a revised Core Yahoo sale effective tax rate. Earnings and guidance were broadly in-line with expectations. Management did not comment on speculation surrounding the Verizon deal, but did note that the company was still "preparing for integration". We are highly optimistic that deal closes with few modifications. Core Yahoo represents only 9% of our implied firm value vs. 69% for the BABA equity component, and as such, our bullish view on BABA outweighs consternation regarding any minor modifications to the Verizon deal."

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 $41.68 yesterday.

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