Yahoo: Have We Seen the Bottom?

Have Yahoo (YHOO) shares finally hit bottom? The beleaguered shares have staged a three-day, 8 percent rise, which makes you wonder if the stock’s close Tuesday at $17.58 might have been the bottom. This morning, Jefferies analyst Youssef Squali added fuel to the move, asserting in a research note that at current levels, “the stock is washed-out with minimal expectations,” but with a variety of options for creating shareholder value.

Squali today cut his target on the stock to $26, from $28, and trimmed his 2009 EPS estimate to 55 cents, from 64 cents. But he also repeated his Buy rating, and asserted that the stock on a sum-of-the-parts basis is worth between $25.42 to $26.26 a share. (Seems a little overly specific, but whatever.)

Squali says that the pending advertising outsourcing deal with Google (GOOG) could provide “an immediate catalyst” for the shares, although he notes that the regulatory scrutiny of the deal has picked up, “which may delay its implementation.”

Read the rest of this post »

Must-Reads from other Websites

Panos Mourdoukoutas

Why Apple Should Buy China’s Xiaomi

Paul Graham

What I Didn’t Say

Benjamin Bratton

We Need to Talk About TED

Mat Honan

I, Glasshole: My Year With Google Glass

Chris Ware

All Together Now

Corey S. Powell and Laurie Gwen Shapiro

The Sculpture on the Moon

About Voices

Along with original content and posts from across the Dow Jones network, this section of AllThingsD includes Must-Reads From Other Websites — pieces we’ve read, discussions we’ve followed, stuff we like. Six posts from external sites are included here each weekday, but we only run the headlines. We link to the original sites for the rest. These posts are explicitly labeled, so it’s clear that the content comes from other websites, and for clarity’s sake, all outside posts run against a pink background.

We also solicit original full-length posts and accept some unsolicited submissions.

Read more »