Another analyst is on the purple haze, pumping Yahoo this morning. Well, sort of.
Carlos Kirjner at Bernstein has a note out titled, “Could YHOO Be Worth $25 Or More?”
His answer is yes, if Yahoo’s Asian assets appreciate in value and the core business does just slightly better than expected.
(Yahoo is trading around $19, now.)
He says, “It is hard to see Yahoo! as a long-term winner, but, it is quite plausible that it could do better than expected from better and more investment in mobile, in video, in monetizing its audience, and in social.”
Yesterday, Goldman Sachs made Yahoo a “conviction buy” and raised its price target to $24.
Yahoo’s stock is up 21% since June, so these notes are coming out a little bit late.
But, this is good news for Yahoo. At this point a year ago, the company had no CEO and no direction. Today it has a CEO, and she’s outlined some direction for the company.
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