Citi Defends Yahoo! (YHOO); Says Trading at Negative $1B
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Evercore ISI Upgrades Yahoo! (YHOO) to Buy Amid Larger Alibaba Spread
January 30, 2015 6:34 AM ESTEvercore ISI upgraded Yahoo! (NASDAQ: YHOO) from Hold to Buy with a price target of $55.00 (from $59.00) citing the wider Alibaba spread.
Analyst Ken Sena commented, "On BABA's December-ending earnings results and our lowering of its target price to $115 (from $130), we are running the valuation adjustment through to our YHOO valuation as well, given that its 15.4% ownership stake in BABA represents the majority (or perhaps all) of Yahoo!'s market value. Essentially, the comparison of value between BABA ADRs and YHOO's ownership is sufficiently wide to argue recommending YHOO shares as alternate... More
Probability of Alibaba (BABA) Buying Yahoo! (YHOO) is Increasing - Analyst
January 29, 2015 10:24 AM ESTShares of Yahoo! (NASDAQ: YHOO) are getting smacked Thursday (-8.6%) amid disappointing quarterly results from Alibaba (NYSE: BABA) (-9.6%). Yahoo! fortunes are closely tied to Alibaba given its massive stake, which it now plans to spin-off into a separate publicly traded entity.
While lower today, the spinning-off of the Alibaba stake is seen as unlocking loads of value for Yahoo! shareholders. Today, Needham & Company analyst Laura Martin took it a step further and said the... More
Yahoo! (YHOO) Falls on Alibaba (BABA) Post Earnings Sell-Off
January 29, 2015 7:10 AM ESTYahoo! (Nasdaq: YHOO) is weakening following the earnings-related sell-off in Alibaba (NYSE: BABA). Yahoo! shares are down 3.9 percent.
While Yahoo! said it was spinning-off its Alibaba stake in a tax-free distribution, the company's lock-up period extends through Q415. For more color on the move, click here.
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