Yahoo! (YHOO) PT Raised to $66 at BofA/Merrill Lynch; Alibaba Provides Upside Still
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Evercore ISI Upgrades Yahoo! (YHOO) to Buy Amid Larger Alibaba Spread
January 30, 2015 6:34 AM ESTEvercore ISI upgraded Yahoo! (NASDAQ: YHOO) from Hold to Buy with a price target of $55.00 (from $59.00) citing the wider Alibaba spread.
Analyst Ken Sena commented, "On BABA's December-ending earnings results and our lowering of its target price to $115 (from $130), we are running the valuation adjustment through to our YHOO valuation as well, given that its 15.4% ownership stake in BABA represents the majority (or perhaps all) of Yahoo!'s market value. Essentially, the comparison of value between BABA ADRs and YHOO's ownership is sufficiently wide to argue recommending YHOO shares as alternate... More
Yahoo! (YHOO) PT Raised to $69 at Credit Suisse
January 28, 2015 8:55 AM ESTCredit Suisse analyst S. Ju raised his price target on Yahoo! (NASDAQ: YHOO) to $69.00 (from $54.00) following Q4 results and plan for a tax-free spin of its Alibaba stake, but maintained a Neutral rating on the stock.
The firm updated revenue and Adj. EPS... More
Cowen Boosts PT on Yahoo! (YHOO) to $60; Disappointing Q1 Outlook Overshadowed by Alibaba Stake Spin
January 28, 2015 7:50 AM ESTCowen and Company is boosting its price target on Yahoo! (Nasdaq: YHOO) from $38 up to $60 following Q4 results and plan for a tax-free spin of its Alibaba stake.
Analyst John Blackledge noted that Q4 results were flat with views and Q1 guidance was lower... More
Yahoo! (YHOO) Price Target Lifted to $61 at Jefferies
January 28, 2015 6:52 AM ESTJefferies US Internet Team reiterated a Buy rating and boosted its price target on Yahoo! (NASDAQ: YHOO) to $61.00 (from $53.00) following plan for the remaining BABA shares to be spun-off in a tax-free transaction.
"We believe a tax-efficient transaction provides ~30% upside from here,... More
Yahoo! (YHOO) Target Lifted to $59 at Evercore ISI
January 28, 2015 6:36 AM ESTEvercore ISI analyst Ken Sena boosted his price target on Yahoo! (NASDAQ: YHOO) to $59.00 (from $50.00) but maintained a Hold rating following earnings and the tax free spin-off its remaining Alibaba stake.
Sena commented, "Yahoo! announced a plan to tax-efficiently spin off BABA holdings, netting about $16 per YHOO shares in tax efficiency (assuming 40% tax rate). The result will be two... More
Yahoo! (YHOO) Target Lifted to $58 at FBR Capital
January 28, 2015 6:28 AM ESTFBR Capital analyst William Bird reiterated an Outperform rating and boosted his price target on Yahoo! (NASDAQ: YHOO) to $58.00 (from $56.00) after earnings and news of a tax-free spin-off of its remaining stake in Alibaba Group.
Yahoo delivered on its key value driver,... More
Yahoo! (YHOO) Plans Tax-Free Spin of Remaining Alibaba (BABA) Stake
January 27, 2015 4:07 PM ESTYahoo! Inc. (Nasdaq: YHOO) announced management has recommended and the Board of Directors has authorized a plan for a tax-free spin-off of the companys remaining holdings in Alibaba Group (NYSE: BABA) into a newly formed independent registered investment company (SpinCo). The stock of the new company will be distributed pro rata to Yahoo shareholders, resulting in SpinCo becoming a separate publicly traded company.
Following the spin-off, Yahoo will continue to operate its core business... More
