UPDATE: Nomura Initiates Coverage on Yahoo
January 15, 2014 at 09:04 AM EST
In a report published Wednesday, Nomura analyst Anthony DiClemente initiated coverage on Yahoo (NASDAQ: YHOO ) with a Neutral rating, establishing a $40.00 price target. According to the report, while YHOO's paid display ad volume has stabilized, price-per-ad continues to decline, driving down display revenue. “We believe the next organic