Report: Shunned Yahoo shares poised for rebound
Internet search firm Yahoo could see its shares rise sharply in the coming year as investors pay greater heed to its array of money-making services, Barron's said in its May 22 edition.
Yahoo shares have been spurned for the nearly two years since rival Google Inc. went public, even though Yahoo has the biggest audience on the Internet and offers the most options for advertisers at a time when more advertisers are moving online, Barron's said.
Yahoo shares, which closed on Friday at $29.53, are hovering near a 52-week low and have fallen more than 25 percent this year amid a general malaise in Internet stocks, the report said.
"It all adds up to a great opportunity to buy a powerful money spinner," Barron's said, citing analyst estimates that Yahoo shares are worth from the "low 40s" to as much as $50 per share
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