Maxim Group Reiterates Buy Rating, $42 PT on Qihoo 360 Technology Co. on Current Decline, Buying Opportunities

In a report published Friday, Maxim Group analyst Echo He reiterated his Buy rating and $42.00 price target on Qihoo 360 Technology Co.

. In the report, He noted, “QIHU's shares declined ~10% in the recent two trading sessions for non-fundamental reasons. We believe QIHU has a favorable risk-reward profile in the near and intermediate future, which is supported by search traffic and revenue growth, and the current weakness will likely soon be overcome by solid performance. Therefore, we recommend buying at current levels.” Qihoo 360 Technology Co. closed on Thursday at $28.71.