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UPDATE: Goldman Sachs Raises PT on Yahoo Due to Increasing Asset Value

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In a report published Tuesday, Goldman Sachs raised the price target on Yahoo! Inc. (NASDAQ: YHOO) from $27 to $30 and reiterated its Conviction List-Buy rating.

In the report, Goldman Sachs analysts Joan Storms and John Garrett state, "updated our valuation analysis for YHOO; we are raising our estimated value of Alibaba to $70 bn (based on 8X 2013E EV/sales) from $35 bn, accounting for the appreciation in Yahoo! Japan shares, and taking a slightly more conservative approach to valuing Yahoo!'s core business. With the core business generating $1.7 bn in annual EBITDA, a more focused corporate strategy, early signs of new innovation, and the further monetization of the Asian assets acting as potential catalysts, we believe that YHOO represents a compelling risk-reward."

Yahoo! Inc. closed Monday at $26.75, and is currently trading up at 1.31% four hours after market open hours.

Latest Ratings for YHOO

DateFirmActionFromTo
Jul 2014Canaccord GenuityMaintainsBuy
Jul 2014CRT CapitalMaintainsFairly Valued
Jul 2014FBR CapitalInitiates Coverage onMarket Perform

View More Analyst Ratings for YHOO
View the Latest Analyst Ratings

Posted-In: Alibaba Goldman Sachs Yahoo! Inc.Analyst Color Price Target Analyst Ratings

 

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