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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 2016Morgan StanleyDowngradesOverweightEqual-weight
Jul 2016Credit SuisseMaintainsNeutral
Jul 2016Cantor FitzgeraldMaintainsBuy

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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