Zacks Investment Research downgraded shares of Yahoo! Inc (YHOO) from NEUTRAL to UNDERPERFORM on August 06, 2014, with a target price of $32.00.
Yahoo! Inc. is one of the leading providers of web-based services and advertisements. Second-quarter earnings were in-line with the Zacks Consensus Estimate helped by a lower share count. Despite the uncertainty surrounding the search and the display business, we are encouraged by the company's focus on product upgrades, acquisitions and growth initiatives that are improving engagement on Yahoo properties. However, separating Alibaba automatically lowers the EPS and the increased focus on the struggling core business is a pressure on share prices. We therefore have a Neutral rating on the shares.
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