Market Overview

UPDATE: Piper Jaffray Upgrades Yahoo, Favors Stake In Alibaba

Share:
Related YHOO
Don't Believe The Reports, Axiom Says: Yelp Couldn't Find A Buyer
Mizuho Picks Top Internet Stocks, But Google And Netflix Don't Make The Cut
Yahoo Tries Google Powered Search Results, Is a Deal Likely? - Analyst Blog (Zacks)

In a report released Monday, Piper Jaffray analyst Gene Munster upgraded Yahoo (NASDAQ: YHOO) from Neutral to Overweight and raised the firm's price target by 16 percent, from $37 to $43 per share.

Munster states that Yahoo is currently undervalued, along with its 23 percent stake with Alibaba. Alibaba is valued to IPO at $168 billion, with Yahoo increasing its Alibaba sum-of-the-parts valuation from its previous estimate of $22.3 billion to $28.7 billion.

Analysts at Piper Jaffray view Yahoo's core operations to be a challenge, but remain bullish on the company due to Alibaba projections.

Latest Ratings for YHOO

DateFirmActionFromTo
Jun 2015Mizuho SecuritiesInitiates Coverage onOutperform
May 2015Evercore PartnersDowngradesBuyHold
May 2015Raymond JamesMaintainsOutperform

View More Analyst Ratings for YHOO
View the Latest Analyst Ratings

Posted-In: Alibaba Gene Muster Piper JaffrayNews Upgrades Price Target Analyst Ratings

 

Related Articles (YHOO)

Around the Web, We're Loving...

Get Benzinga's Newsletters