Mobile

Citi's Internet Shopping List

Citi analysts are largely bullish on Internet stocks, eyeing future growth amid an influx of more tech-savvy consumers and greater access to high-speed mobile data. Analysts at the bank, which initiated coverage of the Internet sector this week, said in a research note sent to clients that the industry is still in the “early innings of its growth cycle.” Internet-centric consumers, mainly from the Millennial generation, are just starting to enter their “prime buying and influence period,” they added, while the shift in Internet consumption from PCs to mobile devices represents a key growth driver for the industry. With those factors in mind, Citi unveiled its top five web stocks, five others it rated at neutral and one more that analysts consider to be on the way down, listed in order of preference.

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