The company maintained its “buy” rating on YHOO stock and set a price target of $56 for it. The move is a result of the firm lowering the price target of Alibaba (NYSE:BABA) to $95 from $110.
Earlier this year, Yahoo announced it would spin off its stake in Alibaba into an independent investment company called Aabaco Holdings, Inc.
YHOO stock is down 3.3% Thursday. BABA stock is down 3.65%.