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Yahoo’s (YHOO) stake in Alibaba is an undervalued asset, says a Piper Jaffray analyst who in a Monday research note upgraded Yahoo stock to overweight, or buy. Yahoo’s core business is still “challenged,” but its stake in Alibaba is “undervalued at its current price,” wrote Piper Jaffray analyst Gene Munster, who had rated the stock neutral. “We expect that as we get nearer the Alibaba IPO, a more realistic valuation should be reflected in YHOO,” Scalper1 News
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