J.P. Morgan Reiterates Neutral Rating, $17 PT on Yahoo!

In a report released earlier today, J.P. Morgan & Co. maintained its Neutral rating and $17 price target on Yahoo! Inc.

. J.P. Morgan went on to say in the report “Yahoo! is expected to report 1Q earnings on Tuesday, April 17 after the close. We expect in-line 1Q12 results as we continue to believe Yahoo! faces challenges in both Search and Display though revenue could grow this quarter for the first time sinc e3Q08. As Yahoo! is undergoing a major reorganization of its core operations with 2,000 layoffs announced, we believe investor focus has shifted somewhat to the core business and new CEO Scott Thompson's pending strategy.” Yahoo! Inc. closed at $14.87 on Friday.