Yahoo Profits From Wall Street Love
A bit of good news for Yahoo emerged from the world’s financial center as an analyst found reasons to boost the Internet company to his clients.
|Yahoo Profits From Wall Street Love|
How about some passion for Yahoo from the wheelers and dealers on Wall Street? Bear Stearns has found some love in its flinty heart for the much-derided Yahoo.
Barron’s Tech Trader Daily blog said Internet analyst Robert Peck of Bear Stears thinks far too many people are down on shares of YHOO:
Peck provides a list of potential catalysts for the stock over the next 16 months:
• Success from branding initiatives.
• Good results from Panama.
• Takeover/strategic partnership talks.
• Alibaba IPO.
• Material share repurchase.
Peck has a price target on the stock of $30. Today, the stock is up 97 cents at $23.70.
Peck’s pick of Yahoo as a top pick has it pecking away at a nice start to the day on Wall Street. Yahoo gained $1.12 to $23.85 near midday, amid general rises in the NASDAQ, Dow, and S&P 500 indices.