Yahoo! (YHOO) PT Cut to $43 at Susquehanna
Susquehanna analyst Shyam Patil lowered the price target on Yahoo! (NASDAQ: YHOO) to $43.00 (from $49.00) after the IRS declined the private letter ruling related to the proposed Aabaco spin. The firm maintained a Positive rating on the stock.
"While this news is likely to pressure the stock in the near-term, we remain Positive on the SOTP story but are lowering our price target to $43 from $49," Patil commented.
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Shares of Yahoo! closed at $30.90 yesterday.