UPDATE: Morgan Stanley Reiterates On Sohu.com On In-Line Sales, Narrowed Losses
In a report published Monday, Morgan Stanley analyst Philip Wan reiterated an Underweight rating on Sohu.com (NASDAQ: SOHU), but removed the $53.00 price target.
In the report, Morgan Stanley noted, “2Q total ad sales grew 49% YoY to US$218mn, in line with our estimates. Brand ad revenue expanded 33% YoY (guidance up 30 35%) to US$133 (~33% of Sohu's total revenue), driven by solid performance from its online video and 17173 ad businesses.Search and other revenues jumped 84% YoY to US$85mn (21% of total,vs. 14% a year ago), helped by increasing traffic and monetization.”
Sohu.com closed on Friday at $57.40.
Latest Ratings for SOHU
|Apr 2017||Benchmark||Initiates Coverage On||Hold|
|Sep 2016||Deutsche Bank||Initiates Coverage on||Buy|
|Aug 2016||JP Morgan||Assumes||Underweight|
© 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.