Yahoo! (YHOO) PT Raised to $66 at BofA/Merrill Lynch; Alibaba Provides Upside Still
BofA/Merrill Lynch analyst Justin Post reiterated a Buy rating and bumped his price target on Yahoo! (NASDAQ: YHOO) to $66.00 (from $63.00) saying the Alibaba spin-off still leaves upside.
Post notes using analyst Eddie Leung's $132 price target on Alibaba, a 12% discount, and other assumptions, they get to $66. At Alibaba's current price of $94.45, they get to a $54 value for Yahoo, a sharp discount to yesterday's $46.46 close.
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 $46.46 yesterday.