Macquarie Starts Sohu (SOHU) at Neutral, Youku.com (YOKU) at Underperform

An analyst at Macquarie Research initiated coverage on two China-based Internet companies Friday morning:

• Sohu.com (Nasdaq: SOHU) with a Neutral rating and a $100 price target
  
• Youku.com (Nasdaq: YOKU) with an Underperform rating and a $32 price target

Ahead of the opening bell, both stocks are indicated higher. Sohu shares last traded at $98.17, up 0.8 percent from Thursday's close, while Youku shares are up just 0.1 percent to $52.60.

Macquarie's new price target on Youku suggests potential downside of about 39 percent from where the stock is currently trading.

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