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Fly News Breaks for February 3, 2016
YHOO
Feb 3, 2016 | 07:22 EDT
Rosenblatt Securities analyst Martin Pyykkonen downgraded Yahoo (YHOO) to Sell from Neutral saying the fundamental outlook for Yahoo as a "growth" stock stock continues to erode, especially in light of strong secular trends in mobile benefiting Facebook (FB) and Alphabet (GOOGL). The analyst said Yahoo's platform is simply much less relevant to advertisers than it used to be and does not see a fundamental reason to own shares. Pyykkonen said the current valuation implies a potential acquisition of the company would be a take-under and said he is hard press to think of a buyer that would pay a premium for the core business versus what is already factored into shares.
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