Youku.com (YOKU) Ramps Higher On Sector Action
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Youku.com (NYSE: YOKU), dubbed the YouTube of China, tapped new all-time highs Wednesday as investors ran for exposure to China Internet companies in the wake of positive sentiment in the sector.
Two of the giants in the sector, Baidu (Nasdaq: BIDU) and Sina (Nasdaq: SINA), both received positive new analyst coverage at Jefferies. The firm initiated coverage on both stocks with a Buy rating and set aggressive price targets of $200 for Baidu (38% upside) and $150 for Sina (29% upside).
While no new coverage was given today on Youku, investors read between the lines... "Buy Internet leaders in China."
Shares of Youku.com closed up over 8 percent today.
Two of the giants in the sector, Baidu (Nasdaq: BIDU) and Sina (Nasdaq: SINA), both received positive new analyst coverage at Jefferies. The firm initiated coverage on both stocks with a Buy rating and set aggressive price targets of $200 for Baidu (38% upside) and $150 for Sina (29% upside).
While no new coverage was given today on Youku, investors read between the lines... "Buy Internet leaders in China."
Shares of Youku.com closed up over 8 percent today.
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