Yahoo! (YHOO) PT Bumped to $45 at Nomura
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Nomura Securities analyst Anthony DiClemente raised his price target on Yahoo! (NASDAQ: YHOO) to $45.00 (from $39.00) following Q3 results but maintained a Neutral rating.
DiClemente commented, "Yahoo’s 3Q results and 4Q guidance were modestly ahead of our estimates. Although incrementally encouraging, there was no material update on the sale of Yahoo’s core business to Verizon; investors continue to await closing of the deal. The extent to which the leak of 500mn email users’ information in 2014 materially affects the value of Yahoo remains an open question, but we do not believe 3Q results reduce the likelihood of the deal closing. We update our model to reflect better guidance and raise our TP, owing to appreciation of Yahoo’s stake in Alibaba."
Shares of Yahoo! closed at $41.68 yesterday.
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