On Monday afternoon, Evercore Partners analyst Ken Sena launched coverage with an Equal Weight rating, citing some of those reasons, and others.

FORBES: Zynga: Another Skeptic

Evercore Partners analyst Ken Sena reduced his rating on Yahoo to Equal Weight from Overweight, despite the potential acquisition of the company, based on his concern about the possibility that the company will choose to do a PIPE (Private Investment in Public Equity) deal.

FORBES: Yahoo: Evercore Downgrades; Dislikes Possible PIPE Deal