Thomson ReutersApril 15, 2014 16:52
By Saqib Iqbal Ahmed
(Reuters) - Yahoo Inc's shares rose as much as 9 percent in heavy trading on Wednesday, a day after Chinese internet company Alibaba Group Holding Ltd, in which it holds a 24 percent stake, reported a surge in quarterly revenue.
At least nine brokerages raised their price targets on Yahoo's shares ahead of Alibaba's IPO filing, expected next week.
The share, up 5.5 percent at $36.10 in early trading, was the most heavily traded stock on the Nasdaq.