RBC Capital Raises Price Target on Yahoo! (YHOO) to $45 Following 3Q
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RBC Capital reiterated a Sector Perform rating on Yahoo! (NASDAQ: YHOO), and raised the price target to $45.00 (from $39.00), following the company's 3Q earnings report. YHOO reported revenue of $858MM, relatively in-line with the Street's estimate. 2017 Net Revenue estimate remains unchanged at $3.7B.
Analyst Mark Mahaney commented, "YHOO reported Q3 Net Revenue of $858MM, generally in-line with Street estimates and in the middle of the company’s guidance range. Net Revenue declined 14% Y/ Y, a modest trend improvement vs. the prior three quarters. Adjusted EBITDA of $229MM came in ahead of the Street at $207MM and above the company’s guidance range. EBITDA Margin was up 230 bps Y/Y to 26.7%, with EBITDA declining 6% Y/Y, a significant trend improvement vs. the prior three quarters. For the December Quarter, YHOO tightened its Net Revenue guidance range and raised its EBITDA guidance range."
Shares of Yahoo! closed at $41.68 yesterday.
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Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT Change
Related EntitiesRBC Capital, Earnings, Mark Mahaney
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