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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 2016CLSAMaintainsOutperform
Jul 2016Cantor FitzgeraldMaintainsBuy
Jul 2016Credit SuisseMaintainsNeutral

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