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Can Yahoo! (Nasdaq: YHOO) be stopped? That's the question investors may be asking right now after seeing how the stock performed last week. On Wednesday, shares of Yahoo! climbed 10-1/8 to 228-7/8 after the company was added to the S&P 500 index. Being added to the index means that Yahoo! stock will be bought by more mutual funds.
Shares of Yahoo! continued to soar on Thursday and Friday. On Friday, the stock climbed 7-3/16 to an all-time closing high of 253, more than 35 points higher than Tuesday's closing price. This lofty perch gives Yahoo! an impressive market value of nearly $67 billion dollars, and some believe it could keep climbing.
Merrill Lynch analyst Henry Blodget, appearing on the TheStreet.com TV show this weekend, said that he believes Yahoo! could trade in the $300 range. Blodget, however, added that he is not going to raise his official price target on the stock this week. Of course, he could very well raise the price target a little later.
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