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UPDATE: Piper Jaffray Upgrades Yahoo, Favors Stake In Alibaba

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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
Jul 2016CLSAMaintainsOutperform
Jul 2016Cantor FitzgeraldMaintainsBuy
Jul 2016Credit SuisseMaintainsNeutral

View More Analyst Ratings for YHOO
View the Latest Analyst Ratings

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

 

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