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AABA

Altaba

$59.20

0.77 (1.32%)

08:33
07/31/17
07/31
08:33
07/31/17
08:33

Altaba announces $5B share repurchase program

Altaba announced that its Board of Directors has authorized the repurchase of up to $5B of its common stock. Altaba announced in June that it had repurchased approximately 64.5 million common shares, or approximately 6.7% of the company's issued and outstanding shares, for $3.4B in a modified "Dutch auction" self-tender offer. The authorization being announced today marks the next stage of the company's program to return cash to its shareholders. "We have consistently stated that it is our intent to return substantially all of our cash to shareholders over time (of course retaining what we need to cover liabilities and operate the Fund) - and with this action, we state it again today, clearly." said Thomas J. McInerney, CEO of Altaba.

AABA Altaba
$59.20

0.77 (1.32%)

06/28/17
JPMS
06/28/17
INITIATION
Target $65
JPMS
Overweight
Altaba initiated with an Overweight at JPMorgan
JPMorgan analyst Doug Anmuth started Altaba (AABA) with an Overweight rating and $65 price target. The analyst cites expected upside in Alibaba (BABA), the ability for Altaba to close its 31% valuation discount over time, and expected Yahoo Japan (YAHOY) upside for his bullish thesis.
06/28/17
06/28/17
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Altaba (AABA) initiated with an Overweight at JPMorgan. 2. Aetna (AET) and Humana (HUM) were initiated with a Buy at Citi. The firm also added Aetna to its Focus List. 3. CVS Health (CVS) and Walgreens Boots Alliance (WBA) were initiated with a Hold at Needham. 4. Oaktree Capital (OAK) initiated with a Hold at Jefferies. 5. General Motors (GM) resumed with an Overweight at Morgan Stanley. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
07/17/17
UBSW
07/17/17
NO CHANGE
Target $69
UBSW
Buy
Altaba price target raised to $69 from $58 at UBS
UBS analyst Eric Sheridan raised his price target on Altaba (AABA) to $69 from $58 following its transformation from Yahoo. The analyst said tax efficient structures could allow the company to monetize its Alibaba (BABA) and Yahoo Japan stakes and the possibility of a federal tax cut provides additional optionality for tax efficiency. Sheridan reiterated his Buy rating on Altaba shares.

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