Yahoo! Shares Get an Upgrade
Yahoo! shares traded higher on Thursday on news that Citi upgraded the technology company to BUY from NEUTRAL.
Yahoo! (YHOO) shares traded higher on Thursday on news that Citi upgraded the technology company to BUY from NEUTRAL. They also raised their price target on the shares by $5 to $43. The analysts cited six factors they say create a more compelling risk/reward scenario for Yahoo! shares, including the auction for assets, Alibaba's recent positive outlook and the stock's performance since Citi's downgrade in March. The analysts said they believe the Yahoo! business with likely be sold for an all-in purchase price of at least $5 billion.
This article was written by a staff member of TheStreet.
