Bank of America Maintains Buy Rating on Yahoo!
According to Bank of America, Yahoo!(NASDAQ: YHOO) Buy rating is maintained.
Bank of America said that Yahoo's core business has significant competitive uncertainties, however, Yahoo's asset value should provide a floor for the stock and there is a real potential that Yahoo's Asia assets are favorably monetized in 1H'12. “The stock currently trades near 3x 2012E EBITDA and with potential fully taxed asset value between $12-14, we see a floor for stock near $13 (see Table 3). Our price objective is $18.”
Yahoo! closed yesterday at $15.78.
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