NEW YORK (
(YHOO - Get Report) shares rose 1.73% to $15.88 early on Thursday, buoyed by positive analyst sentiment.
Goldman Sachs reinstated its buy rating on the Internet giant in a note.
"We believe the value of Yahoo's balance sheet assets and the core business are worth more than the current stock price," wrote Goldman, which has a $22 price target on the stock.
In another note,
Cantor Fitzgerald analyst Youssef Squali wrote that "
re-emphasis on growth seems in the air (again) at Yahoo!"
This has certainly been a busy week for Yahoo! On Tuesday, CEO Marissa Mayer reportedly discussed the company's strategy at an employee meeting, detailing plans to bring back advertisers and expand the firm's user base, according to
Also on Tuesday, the Sunnyvale, Calif.-based firm announced that Chief Financial Officer Tim Morse is
, to be replaced by
CFO Ken Goldman.
Yahoo! was also one of Thursday's most active premarket Nasdaq stocks on share volume of 89,600.
Research In Motion
shares gained 1.14% to $7.08 ahead of the handset maker's second-quarter results after market close.
Shares of the Canadian company, which showed off a
of its next-generation BlackBerry smartphone earlier this week, closed up 6.06% on Wednesday.
will be live-blogging RIM's results, starting at 3.45 PM ET:
(SIRI - Get Report)
was the most active premarket Nasdaq stock, gaining 0.4% to reach $2.51 on share volume of 125,851.
(AAPL - Get Report)
also enjoyed a modest premarket gain, rising 0.43% to $668.01 on share volume of 121,701.
--Written by James Rogers in New York.
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