Loading...
Loading...
Goldman Sachs has a Neutral rating and a $57 price target on shares of Youku.com Inc.
YOKU following earnings.
In a note to clients, Goldman writes, "Youku already has $260 mn net cash; we assume its follow-on offering may boost this to over $500 mn. It could increase the free float to c.40%. The good results do not change our view that it may break even in late
2011/12, since it will invest more aggressively in content and bandwidth; it is now making HD its default video setting. Therefore, we materially raise our revenue and cost estimates, assuming faster advertiser adoption of online video, driving a greater increase in advertiser count and revenue per advertiser: our 2011E LPS (loss per ADS) narrows 15% to $0.15; 2012E
EPS up 24% to $0.10; 2013E EPS up 13% to $0.56. Rating remains Neutral."
Shares of YOKU are up $2.44 to $60.04, a gain of 4% this morning.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in