Yahoo "buy"

11/22/06 - Banc of America

NEW YORK, November 22 (newratings.com) - Analysts at Banc of America Securities maintain their "buy" rating on Yahoo Inc (YHOO). The target price is set to $34.

In a research note published yesterday, the analysts’ mention that the company has recently formed a strategic partnership with a consortium of 176 local newspaper sites for content, classified advertising online, graphical and search. The launch of the Panama project and access to a large reader base through the newspaper sites are likely to boost local ad inventory for Yahoo!’s Publisher Network, the analysts say. The company's online ad revenues are expected to increase from $3.4 billion in 2006 to $12.4 billion by 2010E, Banc of America Securities adds.