Pivotal Research Group Maintains Buy, $19 PT on Yahoo Post New CEO Appointment

Pivotal Research Group reiterated its Buy rating and $19 price target on Yahoo YHOO following the appointment of Marissa Mayer as the company's newest CEO. Pivotal Research Group said, "The appointment of Marissa Mayer is what we would characterize as a “high beta” choice. While we believe that Ms. Mayer is very well regarded and could ultimately be highly successful, she seemingly does not have experience in several areas that are critical to Yahoo's turnaround, introducing some incremental risks around the company's future prospects." Yahoo closed at $15.65 on Monday.