Sohu.com (SOHU) - Bull Of The Day

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Sohu.com (SOHU) - Bull Of The Day

By Zacks Investment Research on July 7, 2009 | More Posts By Zacks Investment Research | Author's Website

Sohu.com, Inc. (SOHU) is the second-largest Internet portal and one of the most well-known online brands in China. Sohu’s pipeline for its new online games remains strong and is expected to drive meaningful growth in late 2009 and 2010.

The company spun-off part of its gaming division Changyou.com via an ADS offering, which is expected to increase user base and help gain shares in the MMORPG market. We are also encouraged by the company’s growing cash balance as well as its debt free balance sheet.

We believe that the current stock price does not fully reflect the company’s intrinsic value. Concerns are related to online ad spending, as consumers remain cautious in their spending. We maintain our Buy rating on the shares of SOHU with a six-month target price of $75.00.

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