Collins Stewart Upgrades Yahoo! (YHOO) to Hold
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Collins Stewart upgrades Yahoo! (Nasdaq: YHOO) from Sell to Hold with a $28 target.
The firm said, "Though Microsoft has not come back to YHOO and YHOO has not approached MSFT, we believe that the "event driven" thesis will prevail, because – 1) investors activism is rising with a likelihood of a new slate of directors for YHOO on 5/15 by activists, 2) body language from YHOO and MSFT do not suggest that both companies have really moved on.
They now see the likelihood of MSFT and YHOO deal at 50% and maintained their view that there is no other company that needs YHOO as much as MSFT.
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