Nomura Securities Trims Target on Youku.com (YOKU) After Q2, Keeps Buy
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Price: $19.34 -5.84%
Rating Summary:
10 Buy, 6 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 28 | New: 14
Rating Summary:
10 Buy, 6 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 28 | New: 14
Trade YOKU Now!
Nomura Securities cut its price target on Youku.com (NYSE: YOKU) from $53 to $46 following second quarter results, but keeps its Buy rating.
Analyst Jin Yoon comments: Youku's 2Q12 revenue came in at the mid-point of company guidance. However, company guidance of 70-80% y-y top line growth for 3Q12F is lower than we expected, which we believe is due to macro uncertainty and the integration process. We believe the merger with Tudou is proceeding smoothly and continue to hold a positive view on it. We expect stronger synergy from the combination on both the revenue and cost fronts. Maintain Buy; we lower our TP to USD46, to reflect our estimate revisions.
For an analyst ratings summary and ratings history on Youku.com click here. For more ratings news on Youku.com click here.
Shares of Youku.com closed at $17.98 yesterday, with a 52 week range of $13.76-$32.75.
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Analyst Jin Yoon comments: Youku's 2Q12 revenue came in at the mid-point of company guidance. However, company guidance of 70-80% y-y top line growth for 3Q12F is lower than we expected, which we believe is due to macro uncertainty and the integration process. We believe the merger with Tudou is proceeding smoothly and continue to hold a positive view on it. We expect stronger synergy from the combination on both the revenue and cost fronts. Maintain Buy; we lower our TP to USD46, to reflect our estimate revisions.
For an analyst ratings summary and ratings history on Youku.com click here. For more ratings news on Youku.com click here.
Shares of Youku.com closed at $17.98 yesterday, with a 52 week range of $13.76-$32.75.
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