Market Overview

Citigroup Initiates Coverage On A Number Of Chinese Internet Stocks


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
  • (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


  • Limited (NASDAQ: CYOU) - $23.40

Latest Ratings for BIDU

Nov 2019UpgradesPerformOutperform
Nov 2019UpgradesHoldOutperform
Nov 2019UpgradesNeutralOutperform

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Posted-In: Citigroup Paul ChongAnalyst Color Price Target Initiation Analyst Ratings


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