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UPDATE: Maxim Group Upgrades Youku Tudou to Hold Following Weak 1Q13 Results, 2Q13 Rebound

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In a report published Thursday, Maxim Group analyst Echo He upgraded the rating on Youku Tudou (NYSE: YOKU) from Sell to Hold, but removed the price target.

In the report, He noted, “Lackluster 1Q13 results followed by a 2Q13 rebound. 1Q13 revenue was $83.1M, in-line with our estimate and 1% higher than consensus, representing 21% y/y growth on a pro forma basis but a 19% q/q decline. 1Q13 revenue GAAP EPS loss was ($0.23), in-line with our estimate and one cent lower than consensus. On the other hand, 2Q13 revenue was guided at $116M-$124M (RMB720M-RMB770M), 3% higher than our estimate and 12% higher than consensus, representing 36% y/y on a pro forma basis and 47% q/q growth.”

Youku Tudou closed on Wednesday at $21.18.

Latest Ratings for YOKU

DateFirmActionFromTo
Aug 2014MacquarieMaintainsOutperform
Aug 2014Morgan StanleyDowngradesOverweightEqual-weight
May 2014HSBCUpgradesUnderweightNeutral

View More Analyst Ratings for YOKU
View the Latest Analyst Ratings

Posted-In: Maxim GroupAnalyst Color Upgrades Analyst Ratings

 

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