Jefferies Downgrades Yahoo! (YHOO) to Hold After New CEO News
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Price: $26.52 -0.23%
Rating Summary:
14 Buy, 21 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Rating Summary:
14 Buy, 21 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Trade YHOO Now!
Jefferies downgraded Yahoo! (NASDAQ: YHOO) to Hold with a price target of $18.00.
The firm comments, "Yahoo!'s appointment of Scott Thompson as its CEO is an indication that: 1) board has decided to reinvigorate Yahoo! by bringing a tech-oriented CEO to grow it again; a long, costly and risky endeavor, and 2) proceeds from the Asian assets' monetization (if/when it happens) could be used for M&A/investments rather than returned to shareholders. While Scott is a strong leader, his lack of media/turnaround expertise are negatives."
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 $15.78 yesterday, with a 52 week range of $11.09-$18.84.
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The firm comments, "Yahoo!'s appointment of Scott Thompson as its CEO is an indication that: 1) board has decided to reinvigorate Yahoo! by bringing a tech-oriented CEO to grow it again; a long, costly and risky endeavor, and 2) proceeds from the Asian assets' monetization (if/when it happens) could be used for M&A/investments rather than returned to shareholders. While Scott is a strong leader, his lack of media/turnaround expertise are negatives."
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 $15.78 yesterday, with a 52 week range of $11.09-$18.84.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
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