Altaba loses a bull at JPMorgan

|About: Altaba, Inc. (AABA)|By:, SA News Editor

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)

Subscribe for full text news in your inbox