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Yahoo! (NASDAQ:YHOO) does not appear to be suffering from a post-Thanksgiving hangover. Shares of the Internet company were one of the best performers in the market on Monday, after receiving an upgrade from Goldman Sachs (NYSE:GS).
How High Can Yahoo Climb?
Analyst Heath Terry added the Marissa Mayer-led company to Goldman’s Conviction Buy List and raised its price target to $24 per share from $22.
In a research note, Terry explains, “With capital allocation actions serving as a catalyst to drive a revaluation in the stock, we believe the value of Yahoo’s balance sheet assets and the core business are worth more than the current stock price. In our opinion, this revaluation, along with recent clarity on the turnaround and channel checks signaling effective management of the organization’s structure, investments and finances, creates a very attractive risk/reward scenario, particularly given the early reaction in the stock to the buyback and the roughly 75 percent of the buyback that still remains.”
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