Cantor Assigns Buy On Yahoo! Following Inline 3Q:14 Results
In a research report issued today, Cantor analyst Youssef Squali assigned a Buy rating on Yahoo! (NASDAQ:YHOO) with a price target of $43, on the back of a muted quarter in terms of growth, but better in terms of profitability, and early signs of traction with newer initiatives.
Squali wrote, “The business seems to be seeing traction in the newer areas of mobile, native, and video but legacy PC remains a drag, a phenomenon management believes will reverse in 2015, paving the way for Y/Y growth. Yahoo! remains a compelling SOP story with upside from a likely tax-efficient treatment of BABA’s final tranche, more buyback and potential resumption of growth.”
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Youssef Squali has a total average return of 28.9% and a 70.5% success rate. Squali has a 10.5% average return when recommending YHOO, and is ranked #3 out of 3337 analysts.