Goldman Sachs Downgrades Youku.com (YOKU) to Neutral On Price Performance

Goldman Sachs downgraded Youku.com (NYSE: YOKU) from Buy to Neutral citing price performance, with the stock up 98% since they upgraded it on February 23, versus a 3% move in the S&P 500.

The firm states, "Despite our favorable longterm view of the business, including its revenue momentum, management and addressable market, we see downside to our target price and it is therefore difficult to recommend Youku stock to investors with a 12-month investment horizon. We attribute its strong price performance in the past two months to expectations for 1Q2011 results and to a re-rating for China internet stocks asa whole, likely sparked by the May 4 IPO of China social network Renren."

The firm has a $54 price target on the stock.

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 $64.76 yesterday.

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