UPDATE: Barclays Lowers PT on Sohu.com from $56 to $51
Barclays maintained an Overweight rating on Sohu.com (NASDAQ: SOHU) and lowered its price target from $56 to $51.
Barclays wrote, “We maintain our Overweight but adjust our 12-month price target to US$51 as we lower our estimates. As we expected, Sohu continues to face challenges on its brand ad growth given its ongoing online video sales team reorganisation as well as the cautious sentiment outlook. There are uncertainties on whether the Sohu portal will continue to lose market share and the timing of revenue reacceleration from online video ads.”
Sohu.com closed at $40.86 on Monday.
(c) 2013 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.