In a report dated July 24, Citigroup analyst Thomas Chong laid out his mostly bullish view on a number of stocks in China's internet sector.
The report comes amid a transition from PC to mobile by both users and internet companies. Chong said that Chinese Internet companies have now embraced the opportunities that mobile presents and believes the stocks have a number attractive characteristics.
Chong's top picks includes Baidu (NASDAQ: BIDU), which he says is well-positioned to take advantage of opportunities in the online-to-offline market. He also made mention of Qihoo 360 Technology (NYSE: QIHU) and Vipshop (NYSE: VIPS), which he said have strong brands, execution and visible earnings.
The stocks covered by Chong that are listed on a U.S. exchange are listed below sorted be their respective ratings.
- Weibo (NASDAQ: WB) - $22.60 (price target)
- Baidu - $245
- Qihoo 360 - $114.10
- Vipshop - 249.90
- SINA (NASDAQ: SINA) - $58.80
- Sohu.com (NASDAQ: SOHU) - $66
- Cheetah Mobile (NYSE: CMCM) - $23.20
- E-Commerce China Dangdang (NYSE: DANG) - $15.20
- Jumei International (NYSE: JMEI) - $32.60
- NetEase (NASDAQ: NTES) - $87.60
- Perfect World Co. (NASDAQ: PWRD) - $20.70
- Sungy Mobile Limited (NASDAQ: GOMO) - $11.80
- Changyou.com Limited (NASDAQ: CYOU) - $23.40
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