Market Overview

UPDATE: Piper Jaffray Raises PT to $21 on Yahoo! on Display Checks, Alibaba Sale

Related YHOO
Jon Najarian Is Bullish On Yahoo
Bob Peck: Activist's Concerns At Yahoo Are Warranted
Internet's Q3 Was Pass, Fail (Investor's Business Daily)

Piper Jaffray reiterated its Neutral rating on Yahoo! (NASDAQ: YHOO) but raised its price target from $18 to $21.

Piper Jaffray commented, "Based on our monthly ad checks, Yahoo!'s display business continues to appear inline with our current thinking for Q4 of 2% y/y growth. Based on our daily ad checks in November, we believe that 75% of Yahoo!'s homepage inventory was sold on a guaranteed basis, compared to 50% last November and 74% in October. Furthermore, we are adjusting our price target on YHOO to $21 utilizing the same 4x FY13 EV/EBITDA multiple on Yahoo!'s core, but updating the other asset values to include the Alibaba asset sale."

Yahoo! closed at $19.20 on Friday.

Latest Ratings for YHOO

Nov 2015Boenning & ScattergoodInitiates Coverage onOutperform
Oct 2015Morgan StanleyMaintainsOverweight
Oct 2015Credit SuisseMaintainsNeutral

View More Analyst Ratings for YHOO
View the Latest Analyst Ratings

Posted-In: Piper JaffrayAnalyst Color Price Target Intraday Update Analyst Ratings


Related Articles (YHOO)

View Comments and Join the Discussion!

Get Benzinga's Newsletters