Yahoo!'s (YHOO) Price Target Reduced to $48 at BofA/Merrill Lynch

UBS Cuts Price Target on Yahoo! (YHOO) Based on a Revised Alibaba (BABA) Outlook

UBS maintained a Buy rating on Yahoo! (NASDAQ: YHOO), and cut the price target to $48.00 (from $51.00), on a revised BABA outlook.

Analyst Eric Sheridan commented, "As noted in today's BABA report (Road Gets Bumpy; Journey Still Intact), we are lowering our BABA price... More

UBS Reiterates Buy on Yahoo! (YHOO) Following IRS Decision

UBS reiterated a Buy rating and $51.00 price target on Yahoo! (NASDAQ: YHOO) following the IRS's decision to decline a private letter ruling regarding a tax-free spin-off of Alibaba (NYSE: BABA). At the same time, the IRS did not conclude that the spin-off was taxable. This should... More

Mizuho Securities Cuts Price Target on Yahoo! (YHOO) Following IRS decision

Mizuho Securities reiterates a Buy rating on Yahoo! (NASDAQ: YHOO), and cut the price target to $43.00 (from $48.00), following announced IRS decision. IRS opted to not issue a tax-free ruling for the company's proposed Aabaco spin-off.

Analyst Neil Doshi commented, "After the... More

Evercore ISI Reiterates Hold on Yahoo! (YHOO) Following IRS Decision

Evercore ISI reiterated a Hold rating and $38.00 price target on Yahoo! (NASDAQ: YHOO) following IRS's decision to tax the company's BABA spin-off.

Analyst Ken Sena commented, "YHOO released an 8-K after the close today indicating that the IRS would not grant a... More

Yahoo! (YHOO) PT Slashed to $32 by Piper Jaffray's Munster on IRS Ruling; But Says Risk/Reward Now Positive

Piper Jaffray analyst Gene Munster slashed his price target on Yahoo! (NASDAQ: YHOO) to $32.00 (from $54.00) after the company disclosed that the IRS decided to not grant approval for Yahoo!'s proposed tax-free spin of its Alibaba shares. The company noted that the IRS... More

Cantor Fitzgerald Cuts Price Target on Yahoo! (YHOO) Following IRS Decision Over Tax-Free Spin-Off

Cantor Fitzgerald reiterated a Buy rating on Yahoo! (NASDAQ: YHOO), and cut the price target to $45.00 (from $56.00) following IRS' decision that it would not grant the requested private letter ruling related to the proposed tax-free spin-off of Yahoo's remaining stake in BABA. Yahoo's Board will continue to consider all options, including proceeding with the spin-off transaction on the basis of an opinion from counsel.

Analyst Youssef... More

Needham & Company Remains Bullish on Yahoo! (YHOO) After IRS Refused Tax Ruling on Spin-off

Needham & Company reiterated a Buy rating and $55.00 price target on Yahoo! (NASDAQ: YHOO) after the IRS refused to rule ahead of time that YHOOs proposed spin-off of Aabaco would be tax free.

Analyst Laura Martin commented, "The IRS refused to rule... More

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... More

Yahoo may have to pay taxes on Alibaba spinoff

(Reuters) - Yahoo Inc (NASDAQ: YHOO) may have to pay taxes on the $23 billion it hopes to get from the planned spinoff of its stake in Alibaba Group Holdings Ltd (NYSE: BABA), threatening a key element of Chief Executive Officer Marissa Mayer's turnaround strategy.

Yahoo said Tuesday the U.S. Internal Revenue Service (IRS) had denied the company's request for a private letter ruling on whether the spinoff of its stake in the Chinese e-commerce giant would be considered tax free.

Yahoo! (YHOO) Denied IRS Request in Alibaba (BABA) Stake Spin-Off

Yahoo! (NASDAQ: YHOO) disclosed the following on Tuesday:

On January 27, 2015, Yahoo! Inc. (Yahoo or the Company) announced a plan for a spin-off of all of Yahoos remaining holdings in Alibaba Group Holding Limited (NYSE: BABA)(Alibaba) into a newly formed independent registered investment company. As previously disclosed, the name selected for the new company is Aabaco Holdings, Inc. (Aabaco). The stock of Aabaco will be distributed pro rata to Yahoo stockholders, resulting in Aabaco becoming a separate publicly traded registered investment company. On July 17, 2015, Aabaco filed its initial... More