Youku.com (YOKU) Shares Higher as Susquehanna Upgrades to Positive; Considers M&A Potential

The recently-beaten down "Youtube of China" is getting some love Friday morning.

Youku.com (Nasdaq: YOKU) shares, down a jaw-dropping 61 percent since the beginning of August as fears have hit US-listed Chinese stocks, were upgraded from Neutral to Positive at Susquehanna earlier. The firm's price target was revised from $29 to $21.

Susquehanna's Ming Zhao believes the company could soon be an M&A target as consolidation seems more likely in the current market. Zhao makes the case Tencent or China Mobile (NYSE: CHL) could be suitors.

With Youku.com shares up 5.5 percent to $15.12 in the pre-market session, Susquehanna's new price target represents potential upside of about 39 percent.

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