Maxim Group Reiterates a 'Sell' on Youku.com (YOKU); Mid-Level Mgmt Departs as Competition Heats Up

Maxim Group reiterates a 'Sell' on Youku.com (NYSE: YOKU) and a price target of $16.00.

Despite shares being up over 20% since Monday (Jan 9th), Maxim analyst, Echo He, feels YOKU is feeling ntense competition and thinks the impact will be negative on a near and long term basis.

He said the impact from Tudou Holdings (Nasdaq: TUDO), Sohu (Nasdaq: SOHU) and LeTV blocking YOKU’s soku.com video search engine from their content will result in negative implications (aside from licensors suing YOKU for copyright violations).

Reports from local media suggest there has been recent and frequent desertion by YOKU's mid-level management.

For an analyst ratings summary and ratings history on Youku.com click here. For more ratings news on Youku.com click here.

Shares of Youku.com closed at $19.36 yesterday.

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