Jefferies Downgrades Yahoo! (YHOO) to Hold After New CEO News

Jefferies downgraded Yahoo! (NASDAQ: YHOO) to Hold with a price target of $18.00.

The firm comments, "Yahoo!'s appointment of Scott Thompson as its CEO is an indication that: 1) board has decided to reinvigorate Yahoo! by bringing a tech-oriented CEO to grow it again; a long, costly and risky endeavor, and 2) proceeds from the Asian assets' monetization (if/when it happens) could be used for M&A/investments rather than returned to shareholders. While Scott is a strong leader, his lack of media/turnaround expertise are negatives."

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 $15.78 yesterday.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Jefferies Reinstates Booz Allen Hamilton (BAH) at Hold
• JPMorgan Downgrades Jarir Marketing Co (JARIR:AB) to Underweight
• Citi Downgrades REA Group Ltd. (REA:AU) (RPGRY) to Neutral