Company Update (NYSE:YOKU): Youku Tudou Inc (ADR) Issues Clarification of Press Release on Forming Marvel Online Movie Marketing Partnership
Youku Tudou Inc (ADR) (NYSE:YOKU), China’s leading Internet television company would like to provide clarification on certain facts referenced in a press release issued on PRNewswire on June 2, 2015 in relation to its business relationship with Disney. The press release stated that the two companies had formed an exclusive online marketing partnership in China for the Marvel collection of movies and TV series. Youku Tudou would like to clarify that while it has worked with Disney since 2013 on numerous online marketing initiatives in China pertaining to the Marvel collection of movies and TV series, no exclusive marketing deals or arrangements have been signed or concluded by the two companies. (Original Source)
Shares of Youku Tudou Inc opened today at $29.85 and are currently trading up at $31.24. YOKU has a 1-year high of $31.40 and a 1-year low of $11.85. The stock’s 50-day moving average is $21.95 and its 200-day moving average is $18.06.
On the ratings front, Youku Tudou Inc has been the subject of a number of recent research reports. In a report issued on May 21, Brean Murray Carret analyst Fawne Jiang reiterated a Buy rating on YOKU, with a price target of $26, which implies a downside of 12.9% from current levels. Separately, on April 20, Summit Research’s Henry Guo initiated coverage with a Hold rating on the stock and has a price target of $16.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Fawne Jiang and Henry Guo have a total average return of 7.8% and 8.5% respectively. Jiang has a success rate of 57.9% and is ranked #761 out of 3610 analysts, while Guo has a success rate of 52.2% and is ranked #1243.
In total, one research analyst has rated the stock with a Sell rating, one research analyst has assigned a Hold rating and 2 research analysts have given a Buy rating to the stock. When considering if perhaps the stock is under or overvalued, the average price target is $25.00 which is -16.2% under where the stock opened today.
Youku Tudou Inc is an Internet television company in china. Its internet television platform enables consumers to search, view and share high-quality video content quickly and easily across multiple devices.