Disappointed that management appears to have no interest in buying back stock, analyst Doug Anmuth cuts Altaba (NASDAQ:AABA) to Neutral from Overweight. He cuts his price target to $78 from $84.
Shares are down 0.7% premarket to $72.25.
To review, Altaba, plans to liquidate its stake in Alibaba - first selling up to 50% of its holdings, and the rest if approved by shareholders.
Previously: Altaba +2.8% as it OKs dissolution plan, estimates distributions (April 2)
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