Yahoo! (YHOO) PT Raised at Susquehanna on Alibaba Value

Susquehanna analyst Brian Nowak bumped his price target on Yahoo! (NASDAQ: YHOO) from $39 to $42 following Q1 results but maintained a Neutral rating. Nowak called the results "deja vu" as the core business continues to disappoint, and the valuation is all about (a rapidly growing) Alibaba.

Nowak comments, "In all, we are lowering our '14 core EBITDA by 8% ($119mn). But again, it's all about Alibaba, as our SoTP valuation rises from $39 to $42. This is driven by a higher Alibaba valuation, which more than offsets the core value erosion. The core business falls to 19% from 22% of our total SoTP valuation."

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 $34.21 yesterday.

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