Yahoo! (YHOO) Shares Rallying as BofA Upgrades to Buy
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Price: $52.58 --0%
Rating Summary:
18 Buy, 21 Hold, 5 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
18 Buy, 21 Hold, 5 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Shares of Yahoo! (Nasdaq: YHOO) are trading notably higher today on the back of an analyst upgrade this morning. The stock most recently traded at $15.44, up 4.4% from yesterday's close.
Bank of America Merrill Lynch lifted its investment rating on shares of Yahoo! from Neutral to Buy and its price target on the stock from $17 to $19. The firm believes that Yahoo! is a growth company that's trades "like a long-term secular decliner." Further, BAS-ML also notes that user traffic has continued to perform at or above the Internet as a whole. Considering Yahoo!'s Asian assets, the firm points out that the market is currently pricing in "significant display ad declines", yet most of these assets have actually appreciated.
BofA Merrill's new price target represents potential upside of about 23% from current levels.
Bank of America Merrill Lynch lifted its investment rating on shares of Yahoo! from Neutral to Buy and its price target on the stock from $17 to $19. The firm believes that Yahoo! is a growth company that's trades "like a long-term secular decliner." Further, BAS-ML also notes that user traffic has continued to perform at or above the Internet as a whole. Considering Yahoo!'s Asian assets, the firm points out that the market is currently pricing in "significant display ad declines", yet most of these assets have actually appreciated.
BofA Merrill's new price target represents potential upside of about 23% from current levels.
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