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Yahoo! (NASDAQ:YHOO)‘s stock had its “buy” rating reaffirmed by equities researchers at Bank of America Corp. in a research report issued on Monday, reports. They currently have a $38.00 price objective on the stock, up from their previous price objective of $29.00. Bank of America Corp.’s price objective points to a potential upside of 13.26% from the stock’s previous close.

The analysts wrote, “We believe Alibaba’s press release on 9/26 suggests that the company is focused on its IPO and considering a US listing. We think the release suggests an IPO filing in the next 3 months and, in a bull market, Alibaba valuations could move higher. As a reminder, Yahoo will sell 50% of its 24% Alibaba ownership in an IPO (if prior to 2015).”

YHOO has been the subject of a number of other recent research reports. Analysts at UBS AG set a $37.00 price target on shares of Yahoo! (NASDAQ:YHOO) in a research note to investors on Friday. They now have a “buy” rating on the stock. They noted that the move was a valuation call. Separately, analysts at TheStreet reiterated a “buy” rating on shares of Yahoo! (NASDAQ:YHOO) in a research note to investors on Wednesday, September 25th. Finally, analysts at CRT Capital initiated coverage on shares of Yahoo! (NASDAQ:YHOO) in a research note to investors on Thursday, September 19th. They set a “fair value” rating on the stock. Twenty-two equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $29.28.

Shares of Yahoo! (NASDAQ:YHOO) traded down 0.24% during mid-day trading on Monday, hitting $33.47. The stock had a trading volume of 19,405,672 shares. Yahoo! has a 1-year low of $15.65 and a 1-year high of $33.85. The stock’s 50-day moving average is $28.86 and its 200-day moving average is $26.38. The company has a market cap of $34.150 billion and a price-to-earnings ratio of 9.24. Yahoo! also was the recipient of some unusual options trading activity on Friday. Traders purchased 77,781 call options on the stock. This represents an increase of 180% compared to the average daily volume of 27,786 call options.

Yahoo! (NASDAQ:YHOO) last announced its earnings results on Tuesday, July 16th. The company reported $0.35 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.31 by $0.04. The company had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.08 billion. During the same quarter in the previous year, the company posted $0.27 earnings per share. The company’s revenue for the quarter was down .9% on a year-over-year basis. Analysts expect that Yahoo! will post $1.47 EPS for the current fiscal year.

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

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