Deutsche Bank Reiterates Hold on Yahoo! After New CEO Announcement
Deutsche Bank has published a research report on Yahoo! (NASDAQ: YHOO) after the company's new CEO announcement and reiterates its Hold rating.
In the report, Deutsche Bank writes, "We view Yahoo!'s hire of Scott Thompson as CEO as somewhat of a surprise given his background in transaction processing / E-commerce, whereas Yahoo! represents a media asset. Thompson may somewhat help talent retention at Yahoo! and provide welcome leadership from within the Internet world, but many challenges remain. We believe any transaction with Asian assets may be priced into shares and fear an announcement could be a negative catalyst for Yahoo! shares."
Deutsche Bank also maintains its $13 price target on Yahoo!, which is currently trading down $0.24 from yesterday's $15.77 closing price.
