Sohu.com (SOHU) - Analysts Race to it's Defense

I was hoping for more of a sell off in Sohu.com (SOHU) after Friday's "news" that after an Olympic style bump this year in their advertising business, things would return to more normal in 2009. [Jun 20: Sohu.com Sees Ad Revenue Slowing in 2009] Notable Calls blog points out that analysts have rushed to its defense this AM, and the stock is bouncing sharply at least for now. Again, gaming not advertising has provided the spark in this name.

• Citigroup notes Friday's sell-off was sparked by a Reuters article confirming what almost everyone already knew: Sohu will face challenging YoY comps on its brand adv side due to a post-Olympics "hangover" effect. However, the firm believes online gaming will continue to power rev and earnings growth in 2009. They were modeling +18% YoY for 2009 adv revs, so the company's expectations of "+20-30% YoY" is actually stronger than