Sohu.com price target lowered to $20 from $21 at Citi

Citi analyst Alicia Yap lowered the firm’s price target on Sohu.com to $20 from $21 and keeps a Buy rating on the shares. The company reported “mixed” Q2 results and its Q3 guidance missed on brand ads, the analyst tells investors in a research note. The firm says investors are likely to be disappointed with Sohu.com’s emphasis on deploying cash use for user acquisition rather than direct shareholder returns.