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Yahoo higher; Stifel hikes PT on account of Alibaba

Jan. 03, 2014 12:00 PM ETAltaba, Inc. (AABA)AABA, BABABy: Eric Jhonsa, SA News Editor5 Comments
  • 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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