Influential Merrill Lynch analyst Lauren Rich Fine carefully adds “seemingly” in front of that phrase in her seemingly positive client note Thursday: “Yahoo is moving in a lot of directions at once as it tries to better position its overseas operations for growth that is exceeding that of the U.S. Yahoo is also taking a lead in content portability, establishing itself further in social networking, and seemingly is on the cutting edge of all that is good online. … Yahoo shares are not as inexpensive as they had been, but we continue to believe the shares are attractive given the diversified operating model and balance being struck between investment and future growth.
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