Goldman Sachs Upgrades Youku.com (YOKU) to Conviction Buy, Sees 104% Upside
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Price: $27.54 --0%
Rating Summary:
5 Buy, 11 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
5 Buy, 11 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Goldman Sachs upgraded Youku.com (NYSE: YOKU) from Neutral to Buy and added the stock to their Conviction Buy List.
The firm sees 104% upside to their $55 price target.
Goldman said the recent 44% decline in the last month "presents an attractive opportunity to own a category leader in China media." They believe the selling has been related to China Internet de-risking and profit-taking and YOKU's IPO lockup expiry.
"Although we acknowledge possible near-term stock volatility, we highlight the stock for longer-term exposure to structurally shifting user behavior and advertising budgets toward online video in China," the analyst said.
For more ratings news on Youku.com click here and for the rating history of Youku.com click here.
Shares of Youku.com closed at $27.00 yesterday.
The firm sees 104% upside to their $55 price target.
Goldman said the recent 44% decline in the last month "presents an attractive opportunity to own a category leader in China media." They believe the selling has been related to China Internet de-risking and profit-taking and YOKU's IPO lockup expiry.
"Although we acknowledge possible near-term stock volatility, we highlight the stock for longer-term exposure to structurally shifting user behavior and advertising budgets toward online video in China," the analyst said.
For more ratings news on Youku.com click here and for the rating history of Youku.com click here.
Shares of Youku.com closed at $27.00 yesterday.
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