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Investment bank Topeka Capital Markets raised its price target for Yahoo on Tuesday, saying that Tumblr — the microblogging service that the Web portal purchased last year — could over time approach the monetization power of Facebook (FB)’s Instagram photo-sharing service. Topeka Capital raised its price target for Yahoo (YHOO) stock to 60 from 57 and reiterated its buy rating on the company. Yahoo stock was near 50, down 1.5% in midday trading on Scalper1 News
Scalper1 News