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| Symbol | Sector | Return | Exposure | Trades | Last Trade | Status | |
|---|---|---|---|---|---|---|---|
| YHOO | Internet | -23.36% |
|
0 | 24-Jun-08 | Currently Holding |
17-Jun-09
Analysts Largely Bullish on Yahoo Changes despite Bing
Holding Rationale for YHOO.
2009 has brought much of the change at Yahoo (NASDAQ:YHOO) that shareholders were clamoring for in 2008: a new CEO, CFO, and a revised homepage with third party applications.
Citi’s Mark Mahaney upgraded his rating on Yahoo to Buy from Hold, with a target price of $21, up from $15. He is confident management changes will benefit the company. He adds that the possibility of third-party applications could provide a new and significant revenue stream for Yahoo. Yahoo’s new homepage will include a list of applications that makes it convenient for users to access various services on just one page.
Also bullish, Collin Stewart analyst’s Sandeep Aggarwal 
maintains his buy rating and price target at $20.
New CEO Carol Bartz has shaken things up, her direct approach creating both fans and detractors. Her refusal to rule out a potential Microsoft deal frustrates Danny Sullivan, an editor for Search Engine Land:
I feel like she’s digging the hole even deeper for Yahoo’s prospects in search. Rather than communicate a clear search engine strategy- which you’d better have if you’re in a war against Google and Microsoft- she resonates mixed messages that Yahoo can ill afford to send.
Henry Blodget stands behind the CEO:
Carol’s just describing the world as it is instead of as she wishes it was, which is a refreshing change. What Yahoo needed most was someone with the balls to ruffle and make decisions. Carol’s doing that. The strategy will come.
With Microsoft Bing stealing market share in the search engine space, a deal between the two companies doesn’t seem like such a bad idea. Should Yahoo be worried about their competitor’s search engine? Bartz said she isn’t concerned.
Barclays Capital’s analyst Doug Anmuth believes the Bing hype is a short-term peak. He provides a few arguments as to why the buzz is not sustainable:
- History shows that new products see a short-term pop
- Microsoft has spent $80-$100 million in advertising and will likely decrease spending levels in the future
- Small differentiation among search engines
Posted at 10:16 in Holding Rationales | Permalink | Top
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