On Thursday, analysts at Topeka reiterated the Buy rating and raised the price target from $47 to $57 on shares of Yahoo! Inc. YHOO.
Analysts at the firm feel that Yahoo’s core business is showing signs of stabilization and management is committed to returning value to shareholders through share-repurchases.
Topeka analysts also find that Yahoo shares appear to be tightly correlated with Alibaba Group Holding Ltd shares; consequently, Yahoo shares should benefit from Alibaba share appreciation.
Shares of Yahoo recently traded at $47.58, up 0.25 percent.
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