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Research analysts at Citigrooup initiated coverage on shares of Yahoo! (NASDAQ: YHOO) in a report released on Tuesday, TheFlyOnTheWall.com reports. The firm set a “buy” rating on the stock.

The analysts wrote, “Given the attractive valuation and what we see as near-term catalysts in the expected IPO of AG and potentially additional large repurchases, as well as the optionality represented in a possible core Yahoo! turnaround and/or liquidity of the Yahoo! Japan stake, we are initiating coverage of YHOO with a Buy rating. Our 12-month price target of $30 represents 18% above from current levels and is based on our sum-of-the-parts analysis of core Yahoo!, Alibaba Group and Yahoo! Japan that we view as reasonable, if not conservative(see Figure 7). Our upside scenarios derive price targets in the $30-35 range.”

Several other analysts have also recently commented on the stock. Analysts at Goldman Sachs reiterated a “buy” rating on shares of Yahoo! in a research note to investors on Tuesday. Separately, analysts at Stifel Nicolaus reiterated a “buy” rating on shares of Yahoo! in a research note to investors on Monday. They now have a $28.00 price target on the stock, up previously from $27.00. Finally, analysts at TheStreet reiterated a “buy” rating on shares of Yahoo! in a research note to investors on Wednesday, July 3rd.

Twenty analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. Yahoo! currently has an average rating of “Hold” and an average price target of $25.96.

Shares of Yahoo! (NASDAQ: YHOO) opened at 26.675 on Tuesday. Yahoo! has a 52 week low of $14.59 and a 52 week high of $27.68. The stock’s 50-day moving average is currently $25.95. The company has a market cap of $28.879 billion and a P/E ratio of 7.74.

Yahoo! (NASDAQ: YHOO) last released its earnings data on Tuesday, April 16th. The company reported $0.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.14. The company had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.10 billion. During the same quarter in the prior year, the company posted $0.24 earnings per share. The company’s quarterly revenue was down .3% on a year-over-year basis. Analysts expect that Yahoo! will post $1.40 EPS for the current fiscal year.

Yahoo! Inc (NASDAQ: YHOO), is a digital media company.

The Fly On The Wall

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