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Yahoo! (YHOO) Stock Price Target Slashed by Analysts

NEW YORK (TheStreet) -- Yahoo! (YHOO - Get Report) stock is falling 1.74% to $32.26 in early morning trading on Wednesday after the company's lower than expected 2015 third quarter earnings results led to several price target cuts.

The technology company reported after yesterday's market close earnings of 15 cents per share on revenue of $1.23 billion for the latest quarter, while analysts expected earnings of 17 cents per share on revenue of $1.26 billion.

Yahoo!'s stock price target was reduced to $49 from $56 at Oppenheimer due to a lower valuation of Alibaba (BABA), of which Yahoo! owns 15%, as well as the growing uncertainty of the tax implications of the spin-off of that stake.

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