UPDATE: Morgan Stanley Initiates Youku Tudou at Overweight on Online Video Outlook in China
Morgan Stanley initiated coverage on Youku Tudou (NYSE: YOKU) with an Overweight rating and a $21.10 price target.
Morgan Stanley said, "Youku is emerging as a leading online TV station, well positioned to capitalize on the surging online video market in China. We believe the market has not fully appreciated that Youku is at an inflection point and will turn profitable by the end of 2013. We initiate at OW with a PT of US$21.10."
Youku Tudou closed at $15.42 on Thursday.
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