Altaba (AABA) Price Target Cut to $80.00 by Analysts at JPMorgan Chase & Co.

Altaba (NASDAQ:AABA) had its price objective trimmed by JPMorgan Chase & Co. to $80.00 in a research report report published on Monday, The Fly reports. The brokerage currently has an overweight rating on the stock.

Several other research analysts have also weighed in on the company. Credit Suisse Group upped their price target on Altaba from $80.00 to $82.00 and gave the company a neutral rating in a research report on Tuesday, July 10th. Gabelli lowered Altaba from a buy rating to a hold rating in a research report on Wednesday, July 11th. BidaskClub lowered Altaba from a buy rating to a hold rating in a research report on Saturday, July 21st. ValuEngine lowered Altaba from a buy rating to a hold rating in a research report on Wednesday, August 15th. Finally, MKM Partners dropped their price target on Altaba to $115.00 and set a buy rating on the stock in a research report on Thursday, August 16th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the company. Altaba presently has a consensus rating of Hold and an average target price of $93.42.

Shares of NASDAQ AABA opened at $62.48 on Monday. Altaba has a 12 month low of $55.76 and a 12 month high of $82.45.

A number of large investors have recently bought and sold shares of AABA. Kiley Juergens Wealth Management LLC acquired a new position in Altaba in the 2nd quarter worth about $143,000. Sageworth Trust Co increased its position in Altaba by 259.7% in the 3rd quarter. Sageworth Trust Co now owns 2,140 shares of the company’s stock worth $146,000 after purchasing an additional 1,545 shares during the last quarter. IMA Wealth Inc. acquired a new position in Altaba in the 2nd quarter worth about $157,000. NEXT Financial Group Inc acquired a new position in Altaba in the 3rd quarter worth about $154,000. Finally, Comerica Bank acquired a new position in Altaba in the 2nd quarter worth about $204,000. 83.13% of the stock is currently owned by hedge funds and other institutional investors.

About Altaba

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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