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Wall Street gives Net titans price cut, sector caution
A number of Internet titans received an across-the-board stock target haircut on Thursday from UBS Securities analyst Ben Schachter, who said a weakening economic outlook is expected to take a toll on display advertising and, to a lesser degree, search advertising.
The reduced 12-month stock price targets for Google, Yahoo, eBay, and ValueClick, as well as a cautious outlook for the Web sector, come as the companies prepare to report their third-quarter financial results in the coming days and weeks.
Google's price target was cut back to $525 a share from $700; Yahoo was bumped down to $20 a … Read more
