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Fly News Breaks for February 3, 2016
YHOO
Feb 3, 2016 | 07:25 EDT
After Yahoo announced that it would cut costs and focus on higher margin ad-tech products, Oppenheimer thinks that the company could look to spin off core Yahoo and Yahoo Japan in a taxable transaction. Oppenheimer also predicts that a hostile bid for core Yahoo could emerge. Oppenheimer says that activist investors may not be happy with this situation, but it thinks that passive investors will be satisfied. The firm keeps a $49 price target and Outperform rating on the shares.
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