Altaba (AABA) Price Target Cut to $80.00

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Altaba (NASDAQ:AABA) had its price objective dropped by equities researchers at JPMorgan Chase & Co. to $80.00 in a report released on Monday, The Fly reports. The brokerage presently has an “overweight” rating on the stock. JPMorgan Chase & Co.’s target price points to a potential upside of 29.18% from the stock’s previous close.

Several other analysts have also issued reports on the company. MKM Partners cut their price target on Altaba to $115.00 and set a “buy” rating for the company in a report on Thursday, August 16th. BidaskClub lowered Altaba from a “sell” rating to a “strong sell” rating in a report on Saturday, September 8th. ValuEngine lowered Altaba from a “buy” rating to a “hold” rating in a report on Wednesday, August 15th. Gabelli lowered Altaba from a “buy” rating to a “hold” rating in a report on Wednesday, July 11th. Finally, Credit Suisse Group boosted their price target on Altaba from $80.00 to $82.00 and gave the company a “neutral” rating in a report on Tuesday, July 10th. One research analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $93.42.

NASDAQ:AABA opened at $61.93 on Monday. Altaba has a 52-week low of $55.76 and a 52-week high of $82.45.

Large investors have recently added to or reduced their stakes in the business. Kiley Juergens Wealth Management LLC bought a new stake in Altaba during the second quarter valued at about $143,000. Sageworth Trust Co boosted its stake in shares of Altaba by 259.7% in the third quarter. Sageworth Trust Co now owns 2,140 shares of the company’s stock worth $146,000 after acquiring an additional 1,545 shares during the period. IMA Wealth Inc. bought a new position in shares of Altaba in the second quarter worth about $157,000. NEXT Financial Group Inc bought a new position in shares of Altaba in the third quarter worth about $154,000. Finally, Comerica Bank bought a new position in shares of Altaba in the second quarter worth about $204,000. 83.13% of the stock is owned by institutional investors and hedge funds.

Altaba Company Profile

Altaba Inc operates as a non-diversified, closed-end management investment company in the United States. Its assets consist primarily of equity investments, short-term debt investments, and cash. The company was formerly known as Yahoo! Inc and changed its name to Altaba Inc in June 2017. Altaba Inc was founded in 1994 and is based in New York, New York.

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