Youku (YOKU) Shares Rallying on Maxim Upgrade

Shares of Youku (Nasdaq: YOKU) have risen more than 3 percent Monday morning following an upgrade from Maxim's Echo He. The analyst now rates Youku shares a Hold, up from Sell previously. He suspended his $16 downside price target.

While the analyst warned of near-term margin pressure amid increased content costs, He believes the company's outlook will soon begin improving. He pointed at continued market share gains as the industry consolidates, and also noted sales growth potential given new SARFT regulations for restricting ads and programs on TV networks.

Youku shares last traded at $22 even.

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