In early trading, the Internet giant saw its stock gain 31.31 points at 435, jumping nearly 8 percent. Shortly after the opening bell, Yahoo shares touched 448, surpassing its 52-week high of 428, which was set last week.
Analysts at Argus Research firm reiterated their "buy" rating on the company's stock and upped their 12-month price target on Yahoo from $385 to $550 a share.
Yesterday, the tech-heavy Nasdaq composite index, which Yahoo trades under, closed above 4,000, gaining a record-breaking 84 percent for the year. The Nasdaq gained 69.35 to close at 4,041.46 yesterday. It has set 60 records this year.
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