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Fly News Breaks for September 18, 2015
BABA, YHOO
Sep 18, 2015 | 08:08 EDT
FBR Capital analyst William Bird lowered his price target for Yahoo (YHOO) to $39 to reflect the decreased value of Alibaba (BABA) shares. Bird's valuation assumes a full tax shield on Alibaba as he believes the company is more likely than not to prevail in executing a tax-free spin of its shares. He keeps an Outperform rating on Yahoo.
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