Piper Jaffray upgraded Sohu.com (SOHU
) to outperform from market perform, citing the Chinese Internet company's recent quarterly results.
Analyst Safa Rashtchy noted strength in the company's brand advertising, as the market in China performs well. Still Sohu's wireless businesses also demonstrated strength -- without the incremental spending seen from other companies across the wireless landscape. Given visibility in the company's brand advertising revenue, the stabilization of its wireless business, and other factors, the analyst raises a $20 stock price target to $25.