Deutsche Bank Upgrades Sohu.com (SOHU) to Buy; Unlocking Non-gaming Value

Deutsche Bank upgraded Sohu.com (NASDAQ: SOHU) from Hold to Buy with a price target of $82.00.

Deutsche analyst says, "We upgrade Sohu to Buy on strong growth momentum from the non-gaming business, particularly video and search ads. We believe Sohu's online ad business is shifting from a low-risk, low-return profile (e.g. brand ads) to a high-risk, high-return one (e.g. online video). With Sohu ranking No.2 in online video traffic in China and video ad growth of 110%+ in 2Q, we believe its position in China’s online video market is firmly entrenched. In addition, we see ample scope for its search ad business to grow in the next few years."

For more ratings news on Sohu.com click here and for the rating history of Sohu.com click here.

Shares of Sohu.com closed at $59.17 yesterday.

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