I just came across this note in which the Banc of America Securities rates Yahoo at a ‘buy’ with a target price of $34.
The interesting thing is the support for the statement:
In a research note published yesterday, the analysts’ mention that the company has recently formed a strategic partnership with a consortium of 176 local newspaper sites for content, classified advertising online, graphical and search. The launch of the Panama project and access to a large reader base through the newspaper sites are likely to boost local ad inventory for Yahoo!’s Publisher Network, the analysts say. The company’s online ad revenues are expected to increase from $3.4 billion in 2006 to $12.4 billion by 2010E, Banc of America Securities adds.
Might be worth a look! They are currently at about $29 but they are up 5 percent today..
Reference: newratings.com