Investment Report released today by Stifel, a US investment agency

The following is a summary of the contents of the report:

Many analysts look at the Curious Tiger 360 stock, partly because of the huge gap between the market share and revenue share of Qihoo's search users. Qihoo's search market share is about 23%, but its revenue share is only 2%. Therefore, compared with rival Baidu, Qihoo has a greater potential for revenue growth.

We believe that the Qihoo will usher in a turning point in the second half of this year. The search for advertiser gains is the main driver of Qihoo's commercialization strategy, and Qihoo management has said that if the number of advertisers reaches 100,000, the company's commercialization efficiency will increase significantly. We expect the number of Qihoo advertisers to reach 100,000 in the third quarter of this year.

We have been relatively cautious about Qihoo, because one of Qihoo's main clients has adjusted its policies to stop paying for traffic. This may affect the Qihoo fourth quarter of 2013 and the first quarter of this year's revenue, but we now believe that the problem was eased at the end of last year.

Valuation: We have downgraded the Qihoo 360 stock from "neutral" to "buy" and set the target price at $108.