In a report dated July 24, Citigroup analyst Thomas Chong assumed coverage of Qihoo 360 Technology QIHU with a Buy rating and a $114.10 price target.
Chong commented, "Qihoo demonstrates strong execution in monetization through PC search and mobile app stores with a focus in the China Market."
Chong believes that the company will be able to provide a one-stop search service to PC and Mobile advertisers through its formulated multi-channel strategy.
Looking ahead, Chong expects the company to capture market share in the high single-digits in terms of revenue in 2015.
Turning to mobile, he is looking for the company to more than triple revenue in 2014, hitting $289 million, driven by mobile game.
Following the release of the note, shares of Qihoo are up 4.9 percent at $100.35.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.