Goldman Sachs Removes Youku.com (YOKU) from Conviction Buy Lilst

Goldman Sachs removed Youku.com (NYSE: YOKU) from its Conviction Buy list but maintained a Buy rating and $50 price target.

The removal comes due to recent underperformance relative to the sector. However, Goldman believes YOKU will emerge the long term winner amidst a changing China Internet/media landscape.

Goldman attributes the recent weakness to negative sentiment on US-listed China companies which lack current year profitability, China Internet sector de-risking and profit taking as well as concerns around rapidly rising content costs following Youku competitors raising financing.

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 $16.21 yesterday.

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