Yahoo! Given New $46.00 Price Target at Citigroup Inc. (YHOO)
Equities researchers at Citigroup Inc. increased their target price on shares of Yahoo! (NASDAQ:YHOO) from $39.00 to $46.00 in a research report issued on Tuesday, ARN reports. Citigroup Inc.’s price target would suggest a potential upside of 15.78% from the company’s current price.
The analysts wrote, “1) increased our CY14 opex to better reflect mgmt’s 3Q13 commentary; 2) raised our target P/E multiple for Alibaba Group (AG) to 29x from 22x (and thus our AG target valuation, see Figure 7) to reflect comp gains; 3) we’re no longer assuming a tax efficient treatment for a portion of the AG stake in order to be more conservative; and, 4) we’re adjusting our core Y! valuation to reflect removal of the cash TIPLA payment (~$100mm/year) at AG IPO.”
In other Yahoo! news, CAO Aman Kothari unloaded 8,000 shares of the stock on the open market in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $40.00, for a total value of $320,000.00. Following the sale, the chief accounting officer now directly owns 92,677 shares of the company’s stock, valued at approximately $3,707,080. The transaction was disclosed in a filing with the SEC, which is available at this link.
Several other analysts have also recently commented on the stock. Analysts at UBS AG set a $46.00 price target on shares of Yahoo! in a research note to investors on Thursday, December 12th. They now have a “buy” rating on the stock. Separately, analysts at RBC Capital raised their price target on shares of Yahoo! from $38.00 to $44.00 in a research note to investors on Tuesday, December 10th. They now have an “outperform” rating on the stock. They noted that the move was a valuation call. Finally, analysts at TheStreet reiterated a “buy” rating on shares of Yahoo! in a research note to investors on Wednesday, December 4th. Twenty research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. Yahoo! currently has a consensus rating of “Hold” and a consensus price target of $33.06.
Yahoo! (NASDAQ:YHOO) traded down 0.50% on Tuesday, hitting $39.53. 7,103,686 shares of the company’s stock traded hands. Yahoo! has a 52 week low of $18.89 and a 52 week high of $40.27. The stock has a 50-day moving average of $35.82 and a 200-day moving average of $30.55. The company has a market cap of $40.101 billion and a P/E ratio of 34.28.
Yahoo! (NASDAQ:YHOO) last posted its quarterly earnings results on Tuesday, October 15th. The company reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.01. The company had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.09 billion. During the same quarter in the previous year, the company posted $0.35 earnings per share. The company’s revenue for the quarter was down .7% on a year-over-year basis. Analysts expect that Yahoo! will post $1.46 EPS for the current fiscal year.
Yahoo! Inc (NASDAQ:YHOO) is a digital media company.
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