Pali Research Upgrades Sohu.com (SOHU) to Neutral; Improving Business Trends
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Pali Research upgrades Sohu.com, Inc. (Nasdaq: SOHU) to Neutral from Sell.
Pali analyst says, "We believe SOHU’s advertising business can improve in 4Q09 due to 1) online advertising is benefiting from remaining budget allocation in 4Q09; and 2) economic rebound in China. We also believe SOHU’s margin in 4Q09 could improve due to a slowdown in its marketing spending. We are still concerned with the game business, particularly uncertain prospects for its new game, DMD. Separately, we expect SOHU to report in line 3Q09 results given the cautious advertising spend in 3Q09 and weaker growth in game. And, we expect 4Q09 guidance to be in-line with our estimation and higher than current consensus as we believe its game company could increase monetization of TLBB, which would lead to higher growth Q/Q."
To see more analyst ratings on SOHU Click Here.
Sohu.com Inc., an Internet company, provides news, information, entertainment, and communication services in the Peoples Republic of China.
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