Citigroup: Microsoft will raise bid for Yahoo

Accordingto reports, a Citigroup analyst, Mark Mahaney upgraded Yahoo to a buy and predicted that Microsoft Corp. will raise its bid to $34 a share, saying that, despite the uncertainty surrounding the proposed merger, Microsoft is determined to pursue the deal, even at a higher price. “We believe the likelihood of Microsoft of walking away from the deal is small,” he said in a research note.