But Lehman analyst Holly Becker may well be the lone voice in the dark with her Yahoo! upgrade. Most other analysts are scratching their heads, taking a wait-and-see approach, and noting the many internal conflicts Yahoo! is currently undergoing.
Some are even saying it may get worse before it gets better, that the Web portal may actually have to go through a round of layoffs in the not-to-distant future.
“In the near term, the waters remain pretty turbulent for the company,” said Derek Brown, an analyst with WR Hambrecht. “There are strong forces at work right now against Yahoo!, and layoffs are a distinct possibility in the near future.”
Plus, the company is still searching for a new chief executive, analysts note.
In her report, Becker set a 12-month target price for Yahoo! at $20 a share.