UPDATE: Nomura Reiterates on Qihoo 360 Technology Following Solid 4Q13 Results
In a report published Monday, Nomura analyst Chao Wang reiterated a Buy rating on Qihoo 360 Technology (NYSE: QIHU), and raised the price target from $130.00 to $146.00.
In the report, Nomura noted, “4Q13 results surprised us by their impressive operating leverage, leading to a 12ppt y-y and 1ppt q-q expansion in non-GAAP operating margins. We believe there will be more room for margin growth in 2014F and 2015F, with increasing monetization of search and mobile. Hence we raise our 2014F/15F non-GAAP operating margins by 4ppt each to 39%/41%, respectively. We also lift our 2014/5F sales by 5%/7% on better-than-expected mobile ad performance. Thus, our new TP is up from USD130 to USD146, implying 32x 2015F P/E (EPS of USD4.5).”
Qihoo 360 Technology closed on Friday at $120.79.
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 |
© 2025 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Posted-In: Chao Wang NomuraAnalyst Color Price Target Analyst Ratings