Yahoo Profits From Wall Street Love

    September 4, 2007
    WebProNews Staff

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
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.