Yahoo! (YHOO) PT Lifted to $55 at Needham & Company on Alibaba (BABA) Strength
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Rating Summary:
18 Buy, 21 Hold, 5 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 17
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Needham & Company analyst Laura Martin reiterated a Buy rating and boosted her price target on Yahoo! (NASDAQ: YHOO) to $55.00 (from $48.00) given the recent surge in Alibaba's (NYSE: BABA) stock price.
Martin commented, "We are raising our target price for Yahoo to $55 (from $48), based on higher trading values for Alibaba than previously expected. Owing to the large non-consolidated value in Alibaba and Yahoo Japan, today’s Yahoo share price embeds negative 6% EBITDA growth, which we believe is too pessimistic. Our $55 target price assumes positive EBITDA growth for YHOO. We also update our model for Yahoo Japan’s reported results (reported on October 29, 2014) in FY14 and we adjust our equity in earnings to account for the lower ownership stake and cash received from the Alibaba (BABA, Buy) IPO for FY14 and FY15."
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 $48.55 yesterday.
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