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 China 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 Inc

, 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

and Vipshop Holdings

, which he says 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.