Through The Fly's Eyes: Yahoo!
Analysts Beginning To Increase Estimates
Bear Stearns increased revenue and earnings for Yahoo (YHOO) yesterday, citing signs the Panama platform is seeing some uptake. Bear increased first quarter EPS by $0.01 and its full year EPS by $0.03 to $0.54. And raised its target price to $35 up from $32.
Jefferies was more cautious writing Yahoo's results for the 1st quarter to be in-line to slightly better. Which is pretty good for Yahoo after big revenue and earnings misses last year. Jefferies has a $38 price target.
We blogged back in January it was worth chipping away at Yahoo's stock as it was a good risk-reward bet -- if Project Panama worked, the stock would take off; and if if didn't, Yahoo's CEO, Terry Semel, would most likely be fired. Which would also drive the stock higher. It appears project Panama is doing OK. Stay with the stock, there is more upside to come.