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FBN Securities Initiates Coverage on Internet Industry

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In a report published Tuesday, FBN Securities analyst Shelby Seyrafi initiated coverage on the internet industry with a positive outlook on 2014.

According to the report, the analysts are initiating coverage on ten important Internet companies with Outperform ratings on eight (GOOG, YHOO, AMZN, FB, LNKD, YELP, NFLX, and P) and Sector Perform ratings on two (TWTR and EBAY).

“The Internet sector is where much innovation in technology is taking place today as it benefits from key trends such as “SoLoMoVi” (social, local, mobile, and video) as well as online commerce and online radio,” the report noted.

A closer look:

  • ”We are initiating coverage of GOOG with an Outperform as the company has a dominant position in search and is enjoying strong Paid Click growth, while Enhanced Campaigns has the potential to increase currently depressed CPC growth.” FBN established a $1,300 price target on Google, Inc. (NASDAQ: GOOG).
  • ”We are initiating coverage of YHOO with an Outperform as the company's 34% interest in Alibaba is quite valuable (we value Alibaba at ~$160B) while CEO Marissa Mayer is improving operations.” FBN established a $46.00 price target on Yahoo, Inc. (NASDAQ: YHOO).
  • FBN initiates coverage of Yelp, Inc. (NYSE: YELP) at Outperform as the company shows international opportunities to expand, established a $100.00 price target.
  • FBN initiates coverage of Amazon.com, Inc. (NASDAQ: AMZN) at Outperform as the company is the dominant cloud, established a $500.00 price target.
  • ”We are initiating coverage of EBAY with a Sector Perform. EBAY has had mixed results recently (N. America sales weaker in CH2 2013) but PayPal is its crown jewel in payments.” FBN established a $60.00 price target on eBay, Inc. (NASDAQ: EBAY).
  • FBN initiates coverage of Facebook, Inc. (NASDAQ: FB) at Outperform as they remain dominant in social media, established a $70.00 price target.
  • FBN initiates coverage of Twitter, Inc. (NYSE: TWTR) at Sector Perform based on user growth, engagement and monetization, established a $60.00 price target.
  • FBN initiates coverage of LinkedIn Corp. (NYSE: LNKD) at Outperform as it's a unique professional social media site, established $275.00 price target.
  • FBN initiates coverage of Netflix, Inc. (NASDAQ: NFLX) at Outperform as they have profitable domestic business, established $425.00 price target.
  • FBN initiates coverage of Pandora Media, Inc. (NYSE: P) at Outperform as strong mobile improvements are expected, established $40.00 price target.

Latest Ratings for GOOG

DateFirmActionFromTo
Jan 2015JMP SecuritiesMaintainsMarket Outperform
Jan 2015Societe GeneraleInitiates Coverage onBuy
Jan 2015Atlantic EquitiesDowngradesOverweightNeutral

View More Analyst Ratings for GOOG
View the Latest Analyst Ratings

Posted-In: FBN Securities Shelby SeyrafiAnalyst Color Initiation Analyst Ratings

 

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