YHOO: Yahoo higher; Stifel hikes PT on account of Alibaba

Yahoo higher; Stifel hikes PT on account of Alibaba • 12:00 PM

• Stifel's Jordan Rohan has hiked his Yahoo (YHOO +1.1%) PT to $49 from $40, citing (what else?) enthusiasm about Alibaba's (ABABA) pending IPO. Rohan thinks Alibaba's apparent decision to delay its IPO is a positive for Yahoo, since it allows the company to sell the 208M shares it's required to unload at IPO time in a tax-efficient manner.
• BofA/Merrill has also released a bullish note on Yahoo; the firm's bull case valuation for Yahoo now stands at $58/share.
• Last month, Citi and RBC respectively raised their Yahoo PTs to $46 and $44. RBC gave Alibaba a $150B valuation, and Yahoo's stake a $36B pre-tax valuation.

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YHOO price at time of publication: $40.07. Check YHOO price now »

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