Yahoo! (YHOO) PT Raised to $66 at BofA/Merrill Lynch; Alibaba Provides Upside Still

BofA/Merrill Lynch analyst Justin Post reiterated a Buy rating and bumped his price target on Yahoo! (NASDAQ: YHOO) to $66.00 (from $63.00) saying the Alibaba spin-off still leaves upside.

Post notes using analyst Eddie Leung's $132 price target on Alibaba, a 12% discount, and other assumptions, they get to $66. At Alibaba's current price of $94.45, they get to a $54 value for Yahoo, a sharp discount to yesterday's $46.46 close.

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 $46.46 yesterday.

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