Deutsche Bank Says Yahoo! (YHOO) Bartz Firing Could Suggest Further Deterioration, Shareholders Have Renewed Hope

Deutsche Bank commented on Yahoo! (NASDAQ: YHOO) following news that Bartz was fired as CEO of the company.

The firm notes the abrupt nature of the termination, "may suggest further deterioration in Yahoo! fundamentals on top of ongoing weakness in search, recent stumbles in display advertising ,and with problems with employee turnover."

They also said shareholders have new reason to hope to see valued unlocked with the change. A new CEO may be better positioned to negotiate with Chinese partners where Bartz had a strained relationship. Also, a private equity buyer could seek to unlock the value of the Asian assets and leverage up the core of Yahoo.

Deutsche Bank estimates the current market value of Yahoo! Asian assets are just over $8/per share net of taxes.

The firm is maintained Hold rating and $13 price target on Yahoo!

For more ratings news on Yahoo! click here and for the rating history of Yahoo! click here.

Shares of Yahoo! closed at $12.91 yesterday.

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