“We think there may be upside from an eventual Alibaba IPO at a valuation much higher than $50B or a Yahoo! core turn-around, but it is hard to have high conviction in either given the facts we currently have,” said the report, in part. “In addition, there is manageable but real downside risk: reorganization (e.g., of the sales force) could be negative for revenues, management could decide to invest in growth now and cut excess later, and MSFT RPS guarantee could expire without a renewal.”
Uncertainty creates opportunity. Yahoo $30 by end of 2013.
They even raised their price target on YHOO. Amazing that that report (which is really worthless in that it is all over the place and weak) can move YHOO down so much but MM can not buy back shares in first half hour and she frankly has not done much to step up to the plate and defend YHOO share price.