T.h.capital to maintain Qihoo buy rating target price 94 USD

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Beijing time September 5 Evening News, investment company T.h.capital published an investment report today, maintaining Qihoo 360 stock (Nyse:qihu) "buy" rating, while maintaining the 94 dollar target share price unchanged.

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

Qihoo Search market share will continue to grow: As of August 24, based on page traffic (PV), Qihoo Search market share of 17.5%, and as at the end of June for 15.8%. Since most of Qihoo's search traffic comes from its browser, and its browser market share is about 25%, we expect Qihoo's search market share to eventually reach that level.

Search traffic continues to grow: Qihoo The number of independent user visits in the third quarter (as of August) is expected to be 20.2 million, up 21.5% from 16.6 million in the second quarter of this year.

The mobile App Store is active: As of August 25, the cumulative mobile app download is expected to be 7 billion, up 66.8% from the end of the second quarter, compared to 4.2 billion. Qihoo's Android App Store is expected to use 110,500, compared with 109,500 at the end of the second quarter.

Mobile games are strong: As of August 25, the cumulative download of mobile games is expected to be 2.1 billion times, up 43.1% from 1.5 billion times the end of the second quarter. The total number of mobile games in Qihoo's Android App Store is expected to be 29,200, compared with 29,000 at the end of the second quarter.

Number of servers and games: As of August 26, the total number of servers was 6044, compared with 4630 at the end of the second quarter. Average server number of 5310 units, the chain growth of 41.9%. The number of games hosted was 196, compared to 174 at the end of the second quarter.

Valuation: We continue to maintain the "buy" rating of Qihoo 360 shares, while maintaining a 94 dollar target share price unchanged.