08:07 am 8BALL .: The Call — Despite YHOO’s 13% gain since 10/29, we remain positive and believe investors interested in BABA should consider YHOO. With BABA shares now trading in-line with consensus price targets, and given our confidence in a taxefficient monetization of its 15% equity stake in BABA (see note here), we continue to view Yahoo! as our best idea with near-term catalysts, including the potential announcement of a tax-efficient spin-off transaction to be announced by the end of January 2015 that should meaningfully narrow what we estimate is currently a 37% discount to BABA’s current valuation. As such, we reiterate our Buy rating and $63 price target. Citi
Posted on: Mon, 17 Nov 2014 14:10:54 +0000