Topeka Reiterates On Yahoo

On Thursday, analysts at Topeka reiterated the Buy rating and raised the price target from $47 to $57 on shares of Yahoo! Inc. (NASDAQ: YHOO).

Analysts at the firm feel that Yahoo’s core business is showing signs of stabilization and management is committed to returning value to shareholders through share-repurchases.

Topeka analysts also find that Yahoo shares appear to be tightly correlated with Alibaba Group Holding Ltd shares; consequently, Yahoo shares should benefit from Alibaba share appreciation.

Shares of Yahoo recently traded at $47.58, up 0.25 percent.