UPDATE: Morgan Stanley Raises PT to $19 on Yahoo! Following Q4 Report
Morgan Stanley reiterated its Equal-weight rating on Yahoo! (NASDAQ: YHOO) and raised the price target from $17.00 to $19.00.
Morgan Stanley said, "Yahoo!'s net search revenue accelerated against a tougher comp and grew 14% Y/Y, helped by an 11% rise in paid clicks; revenue continued to benefit from the MSFT RPS guarantee which expires in March. Display revenue declined 5% Y/Y. We nudge our 12-month PT to $19."
Yahoo! closed at $20.31 on Monday.
(c) 2013 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.