Alibaba Group Holding Ltd (BABA)

[Noonehasthisusername]

BANK OF AMERICA SEES SOME POSITIVES FOR YAHOO FROM ALIBABA VALUATION IN F-1Font size: A | A | A
9:51 AM ET 8/13/14 | S&P Capital IQ
RELATED QUOTES

This is where I got the $50 price, may go up to $56.

I have been buying Yahoo on the dips... GLTA
---
2:08 PM ET 8/19/14
Symbol Last % Chg
YHOO
37.78 1.07%
Real time quote.

In a report published Wednesday, Bank of America analyst Justin Post reiterated a Buy rating and $39.00 price target on Yahoo (NASDAQ: YHOO). In the report, Bank of America noted, "On Tuesday Alibaba Group (Yahoo owns 22.5%) filed an amendment to its IPO prospectus and reported with a higher valuation. Per filing, Alibaba has 2.33bn shares outstanding (Yahoo owns 524mn shares or 22.5%), and the filing suggests an internal fair valuation at $56/share (up from $50/share in April) for share based awards in July 2014 (which is pre-IPO and likely to go higher, in our view) or $130bn in total cap (up from $116bn). Per press reports, the deal is expected to price after Labor Day, and Alibaba did not update its filing with 2Q results." Yahoo closed on Tuesday at $35.52. 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. Acquire Media