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Fly News Breaks for March 26, 2015
BABA, YHOO
Mar 26, 2015 | 17:24 EDT
Morgan Stanley after the close initiated shares of Yahoo (YHOO) with an Overweight rating and $55 price target. The firm says Yahoo is an attractive way to buy Alibaba (BABA), a stock it views as undervalued. Morgan believes Yahoo holders are getting a tax efficient outcome with the SpinCo, and estimates the core business is trading at a negative $5 per share. Shares of Yahoo ticked up 58c to $45.05 in after-hours trading.
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