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Fly News Breaks for April 9, 2015
YHOO
Apr 9, 2015 | 08:51 EDT
Morgan Stanley said Yahoo's (YHOO) headcount is still large versus its revenue base and peers and provides a cost savings opportunity. The firm said an 11% headcount reduction at Yahoo would generate flat EBITDA, adding $3.90/share in value, or 77% to a post Alibaba (BABA) stub value. Shares are Overweight rated with a $55 price target.
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