Deutsche Bank Starts Sohu.com (SOHU) at Buy
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Deutsche Bank initiated coverage on Sohu.com (NASDAQ: SOHU) with a Buy rating and a price target of $53.30. Analyst Han Joon Kim sees 28% upside.
"We see SOHU as a value stock with optional value for growth via its 69% stake in Changyou, on which we concurrently initiate coverage with a Buy. While SOHU's core operation is not without its challenges, the company appears to be investing within its cash-flow means and is still trading at a 23% discount to its NAV value, even with zero value ascribed to its loss-making video platform. We reinstate coverage at Buy with a US$53.3 target price, implying 28% upside potential," said the analsyt.
Shares of Sohu.com closed at $41.53 yesterday.
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