Goldman Sachs Adds Yahoo! (YHOO) to Conviction Buy List; Says Buyback to Drive More Upside
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Price: $52.58 --0%
Rating Summary:
18 Buy, 21 Hold, 5 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
18 Buy, 21 Hold, 5 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Goldman Sachs added Yahoo! (NASDAQ: YHOO) to its Conviction Buy with a price target of $24.00 (from $22.00), saying the stock is reacting to the share buyback with 76% still to go.
"With capital allocation actions serving as a catalyst to drive a revaluation in the stock, we believe the value of Yahoo!’s balance sheet assets and the core business are worth more than the current stock price," the analyst notes. "In our opinion, this revaluation, along with recent clarity on the turnaround and channel checks signaling effective management of the organization’s structure, investments and finances, creates a very attractive risk/reward scenario, particularly given the early reaction in the stock to the buyback and the roughly 75% of the buyback that still remains."
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 $18.57 yesterday.
"With capital allocation actions serving as a catalyst to drive a revaluation in the stock, we believe the value of Yahoo!’s balance sheet assets and the core business are worth more than the current stock price," the analyst notes. "In our opinion, this revaluation, along with recent clarity on the turnaround and channel checks signaling effective management of the organization’s structure, investments and finances, creates a very attractive risk/reward scenario, particularly given the early reaction in the stock to the buyback and the roughly 75% of the buyback that still remains."
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 $18.57 yesterday.
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