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Goldman Sachs Adds Yahoo to 'Conviction Buy' List

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Its price target was raised to $24 per share from $22.

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MINYANVILLE ORIGINAL Yahoo (NASDAQ:YHOO) was added to Goldman Sachs' Conviction Buy list and its price target was raised to $24 per share from $22. Goldman stated, "With capital allocation actions serving as a catalyst to drive a revaluation on the stock, we believe the value of Yahoo's balance sheet assets and the core business are worth more than the current stock price."

We went to a Strong Buy back on October 5 at $16.05 and the stock is now up 15.41%. Additionally the stock is 2.40 standard deviations above its 50-day moving average, which is starting to get extended. We will alert readers as soon as we get an Approaching Overbought or Overbought level reading. We have been recommending to Minyanville readers to get long this stock for a while as it has been rated the strongest technology stock in the S&P 500 (INDEXSP:.INX) for several weeks.


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No positions in stocks mentioned.
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