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Technology

Citigroup’s Most and Least Favorite Internet Stocks to Buy and Sell

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By Jon C. Ogg Published
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It looks like Internet stocks are going to be back in focus on Wednesday. Citigroup’s Mark May, who is the former Internet analyst at Barclays, has issued new coverage of key internet stocks. Citigroup’s prior Internet analyst was Mark Mahaney, who is now at RBC Capital Markets. Investors may want to consider here that, when an analyst leaves a firm and joins a new firm, the new calls should probably be considered as “continuation calls” as it is the same person making a call. These were also issued in the after-hours late in the day on Tuesday.

The favorite names given Buy ratings were as follows:

Neutral ratings were handed out to Facebook Inc. (NASDAQ: FB), LinkedIn Corp. (NYSE: LNKD), Netflix Inc. (NASDAQ: NFLX), Yelp Inc. (NYSE: YELP) and Zillow Inc. (NASDAQ: Z).

A Sell rating was issued on OpenTable Inc. (NASDAQ: OPEN), due to competition and valuation. May had previously rated this one as Equal Weight when he was at Barclays, so this is a more negative call than previously.

Again, these should probably be considered continuation calls, due to this being an existing analyst moving from one firm to another. Also note that Mahaney effectively was fired by Citigroup after he and his team handled the dissemination of information to the media about the firm’s opinion on the Facebook IPO.

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About the Author Jon C. Ogg →

Jon Ogg has been a financial news analyst since 1997. Mr. Ogg set up one of the first audio squawk box services for traders called TTN, which he sold in 2003. He has previously worked as a licensed broker to some of the top U.S. and E.U. financial institutions, managed capital, and has raised private capital at the seed and venture stage. He has lived in Copenhagen, Denmark, as well as New York and Chicago, and he now lives in Houston, Texas. Jon received a Bachelor of Business Administration in finance at University of Houston in 1992. a673b.bigscoots-temp.com.

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