UPDATE: Citi Starts Yahoo! (YHOO) at Buy

July 9, 2013 5:29 PM EDT Send to a Friend
Get Alerts YHOO Hot Sheet
Price: $40.18 +2.29%

Rating Summary:
    19 Buy, 21 Hold, 4 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 24 | Down: 14 | New: 40
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(Updated - July 10, 2013 7:10 AM EDT)

Citi initiates coverage on Yahoo! (NASDAQ: YHOO) with a Buy and $30 price target.

Analyst Mark May comments, "One of the best risk/reward names in our universe, with three ways you can win, identifiable n-t catalysts (e.g., Alibaba IPO), and limited downside considering its trades at 5x EBITDA. Three possible upside drives: 1) Alibaba IPO valued at >$65bn, 2) liquidation of Japan stake in a tax-free way, and/or 3) simply a modest improvement in core Y! fundamentals. Our target price is $30; upside case is $35; downside case $25."

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 $25.53 yesterday.


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