UBS Upgrades Yahoo To Buy
Mar 24, 2006, 6:00 AM
Yahoo's strength in branded advertising and potential to monetize search and forge new partnerships have led UBS analyst Benjamin Schachter to upgrade Yahoo to "buy" from "neutral." "The bottom line is that, despite some longer-term issues, we think weak industry sentiment combined with some valid company specific concerns have pushed the stock lower than is justified," stated Schachter in a research note issued Thursday. But the same note stressed that the firm was not revising its "neutral" rating for Google. "Our call is that we currently have lower confidence in our and the Street's collective ability to accurately estimate revenue," the note states. "In the near-term, we simply think there is not enough visibility into top-line growth for us to recommend the shares with any conviction."