NEW YORK (TheStreet) -- Shares of Yahoo! Inc (YHOO) are climbing, up 1.22% to $49.65 in early market trading Wednesday, after the global technology company had its price target raised to $55 from $48 at Bank of America following its $640 million acquisition of digital video advertising platform BrightRoll, in an effort to boost revenue.
Analysts at Bank of America cited the acquisition for its increase in price target, but maintained its "neutral" rating on shares.
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Yahoo! said BrightRoll's ad revenue could exceed $100 million this year.
The acquisition marks Yahoo!'s first major purchase since gaining $9.4 billion in September by selling part of its stake in Chinese e-commerce company Alibaba Group Holding (BABA) .
Also, it was reported that Yahoo shareholders are making a direct plea to AOL CEO Tim Armstrong to explore a merger with Yahoo due to un happiness with CEO Marissa Mayer's turnaround efforts, Reuters reports.
Separately, TheStreet Ratings team rates YAHOO INC as a Buy with a ratings score of A-. TheStreet Ratings Team has this to say about their recommendation: