UPDATE: Jefferies & Company Reiterates Buy Rating, Raises PT on Qihoo 360 Technology Co.
In a report published Friday, Jefferies & Company reiterated its Buy rating on Qihoo 360 Technology Co. (NYSE: QIHU), and raised its price target from $35.00 to $38.00.
Jefferies noted, “During Jefferies China TMT tour, we met with Mr. Hongyi Zhou, Qihoo's Chairman, and Mr. Alex Xu, Co-CFO. Mgmt confirmed cooperation with Google, and is developing its own sales network. Search market share should gradually expand. Mobile security and app store are key focuses. Qihoo is preparing a mobile game platform. Mgmt expects no meaningful impact from Baidu's investment in Kingsoft. Reiterate Buy. PT revised up by 9% to USD38.”
Qihoo 360 Technology Co. closed on Thursday at $30.50.
Latest Ratings for QIHU
Date | Firm | Action | From | To |
---|---|---|---|---|
May 2016 | Stifel | Upgrades | Hold | Buy |
Mar 2016 | Summit Insights Group | Terminates Coverage On | Buy | |
Apr 2015 | Summit Insights Group | Initiates Coverage On | Buy |
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Posted-In: Jefferies & CompanyAnalyst Color Price Target Analyst Ratings