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UPDATE: Oppenheimer Upgrades Yahoo! to Outperform on Alibaba and Toolbar Upside

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In a report published by Oppenheimer, analyst Jason Helfstein upgraded Yahoo (NASDAQ: YHOO) from Perform to an Outperform rating, while increasing his price target from $22 to $27.

According to the report, "We are raising our price target from $22 to $27 and upgrading YHOO shares to Outperform from Perform. The increase is driven by: 1) a higher current trading value for Yahoo Japan (YJ) shares; 2) our assumption that Alibaba will complete its IPO within the next 12 months at a $77B valuation; and 3) we now estimate 2013 core EBITDA 2% above the Street on higher Search revenues from toolbar/application providers. This report includes a detailed assessment and forecast for the Alibaba Group."

Shares of Yahoo traded up 1.56 percent to $22.44 following the report.

Latest Ratings for YHOO

DateFirmActionFromTo
Oct 2014Bank of AmericaMaintainsNeutral
Oct 2014FBR CapitalUpgradesMarket PerformOutperform
Oct 2014BGC PartnersUpgradesHoldBuy

View More Analyst Ratings for YHOO
View the Latest Analyst Ratings

Posted-In: OppenheimerAnalyst Color News Upgrades Analyst Ratings

 

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