Another Analyst Becomes A Yahoo
Lehman Brothers analyst Doug Anmuth gives Yahoo its second straight day of major Wall Street love for the Internet company’s stock.
Yahoo co-founder and prodigal CEO Jerry Yang must be doing something right in Sunnyvale. The day after Robert Peck of Bear Stearns gave a thumbs-up to shares of Yahoo, Anmuth did the same thing.
Both Anmuth and J.P. Morgan Securities analyst Imran Khan rate Yahoo’s stock as “Overweight,” according to a Forbes report.
Anmuth also liked Yahoo’s purchase of BlueLithium for $300 million.
“We believe the acquisition of BlueLithium is a solid strategic fit within Yahoo’s recent shift toward performance-based advertising, including the acquisition of RightMedia and the recent launch of SmartAds,” Anmuth wrote in a client note.
Just as the Bear Stearns news did yesterday, the Lehman Brothers news has done today for Yahoo, pushing its stock price to $24.10 near midday. The stock still has room to move up to approach its 52-week high of $33.61 from earlier this year.