A Pair Of Chinese Internet Names Get Some Analyst Love (CYOU, SOHU, BIDU, DATE, DANG, AMZN, TAOM, YOKU)
Shares of Changyou (CYOU), the Chinese online game developer, touched a new 52-week high earlier today and are surging 7% after T.H. Capital initiated coverage of the stock with a “buy” rating and a $57 price target, implying significant upside from where the shares currently trade. The research firm is bullish on Changyou’s newly developed in-house game, Duke of Mount Deer, noting the game could be a long-term revenue driver. T.H. Capital said it expects Changyou’s P/E multiples to expand if the new game is in fact a hit.
Investors seem to like the news as the Chinese Internet Stocks is higher by 0.9%. T.H. Capital is also bullish on Sohu.com (SOHU), which is higher by 2% after the research firm initiated coverage of that stock with a “buy” rating and a $97 price target.
T.H. Capital believes Sohu.com can continue to grow its online gaming business and that momentum in China’s online advertising business could be a positive catalyst for the shares. Sohu.com has seen its shares surge 26% in the past month.
Baidu (BIDU), China’s largest provider of Internet search services, is up 1% while Jiayuan.com International (DATE), China’s answer to Match.com, is higher by 3%. E-Commerce China Dangdang (DANG), the Chinese equivalent of Amazon.com (AMZN), is higher by 1% as is newly public Taomee Holdings (TAOM). Youku.com (YOKU) is lower by 1%.
Investors can track the Chinese Internet Stocks for performance trends and a suite of other metrics at tickerspy.com.
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