Evercore Partners Lifts PT on Yahoo! (YHOO); 'Dark Horse' Potential for 2013
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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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Evercore Partners' Ken Sena raised his price target on Yahoo! (NASDAQ: YHOO) from $18 to $20 but reiterated an Equal Weight rating. The firm said Yahoo has "dark horse" potential for 2013.
"Recent signs of core improvement, the potential for higher valuation at Alibaba, and $4.8B in remaining buyback authorization (~20% of S/O, with $2.8B already promised to be returned) cause us to see continued share support, even given the stock's recent run (moving from a 52-week low to a 52-week high in the span of three months)," the analyst said.
2013 catalysts, according to the firm, include: Upward revision of Alibaba; Nearly $5B in buyback authorization remaining; Encouraging early signs on turnaround
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 $19.69 yesterday.
"Recent signs of core improvement, the potential for higher valuation at Alibaba, and $4.8B in remaining buyback authorization (~20% of S/O, with $2.8B already promised to be returned) cause us to see continued share support, even given the stock's recent run (moving from a 52-week low to a 52-week high in the span of three months)," the analyst said.
2013 catalysts, according to the firm, include: Upward revision of Alibaba; Nearly $5B in buyback authorization remaining; Encouraging early signs on turnaround
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 $19.69 yesterday.
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