Market Overview

UPDATE: Topeka Capital Markets Lowers PT on Yahoo! Following 1Q13 Earnings Report

Related YHOO
These 2 Hedge Funds Might Be Bruised From Yahoo's Recent Fall
Topeka: Yahoo's Tumblr Is 'Under-Appreciated Asset'
Making Money With Charles Payne: 11/24/14 (Fox Business)

In a report published Wednesday, Topeka Capital Markets analyst Victor Anthony reiterated a Buy rating on Yahoo! (NASDAQ: YHOO), but slightly lowered the price target from $30.00 to $29.00.

In the report, Anthony noted, “Yahoo!'s 1Q13 earnings report confirmed that a Marissa Mayer led turnaround, which we viewed as pure optionality in our recent initiation of coverage report Alibaba Driven Valuation Upside; Initiate at Buy with $30 Price Target, will indeed need time and possibly "take several years". Our view hasn't changed, in that, although we keep an open mind given Ms. Mayer's success at Google (GOOG-$793.37:BUY), we continue to have low conviction in a successful turnaround. However, we continue to recommend purchase of the shares as the Alibaba IPO should lead to meaningful upside to Yahoo!'s current valuation. We are trimming our price target down to $29 from $30 on tweaks to our SOTP based price target.”

Yahoo! closed on Tuesday at $23.79.

Latest Ratings for YHOO

DateFirmActionFromTo
Dec 2014Bank of AmericaUpgradesNeutralBuy
Nov 2014BernsteinMaintainsMarket Perform
Nov 2014UBSMaintainsBuy

View More Analyst Ratings for YHOO
View the Latest Analyst Ratings

Posted-In: Topeka Capital MarketsAnalyst Color Price Target Analyst Ratings

 

Related Articles (YHOO)

Around the Web, We're Loving...

Get Benzinga's Newsletters