Yahoo! Slips 3% on Downgrades - TheStreet

Yahoo!

(YHOO)

was down 3% in preopen

Island

trading after

Robertson Stephens

downgraded it to long-term attractive from buy. The firm also lowered its 2000 earnings estimate to 47 cents from 49 cents and cut its 2001 forecast to 52 cents from 57 cents. In addition,

Wit Soundview

, citing trends in online advertising, downgraded the Internet media company to hold from buy and said the target price for Yahoo! is in the $25 to $30 range.