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Yahoo’s shares might be trading at extremely cheap rates, but the Internet Giant is still extremely attractive to Madison Avenue, according to a report by AdAge.

According to Chris Moloney, chief marketing officer at Scottrade – one of the top online ad spenders “Advertisers are looking at where’s the traffic, volume and value is today. And today is very positive for advertisers at Yahoo. Google is considered to be the 800-pound gorilla of the internet but it doesn’t have content the way Yahoo does. It receives a massive volume of traffic.”

Still not convinced, Deborah Wahl Meyer, the chief marketing officer at Chrysler thinks of Yahoo as a fifth network in par with the likes of ABC, NBC and Fox etc. According to her:

A home-page buy on Yahoo is worth 75 TV ratings points — the equivalent of four 30-second spots in a hit prime-time show such as ABC’s "Desperate Housewives."

May be Yahoo still has more value left in it than what Wall Street and Microsoft apparently think.