Real-Time Quote
US News
Page 1 of 2 | Next Page
Show Entire Article

Facebook's Absence in China Makes Rivals Attractive
CNBC.com | February 06, 2012 | 09:43 PM EST

Chinese internet stocks have rallied in recent days ahead of Facebook's filing of its hotly-anticipated IPO . Facebook isn't available in China, the world's biggest internet market, because of strict censorship laws, and according to one analyst, that makes Chinese internet stocks that offer similar services more attractive.

"The Chinese internet story is still quite strong. It's a very strong secular growth story, I think that although there are 500 million internet users in China, we think that will double to over a billion users in the next five or six years," Paul Wuh of Samsung Securities told CNBC.Wuh said there are a number of ways to play the internet story in China. He is positive about several areas within the space including online games and online advertising. Baidu , Tencent and NetEase are three of his top picks. "Baidu is the number one search engine in China. It's growing its revenues by over 50 percent [in 2012] and has a very strong position with over 75 percent of market share." Wu has a price target of $190 a share for the stock.

Page 1 of 2 | Next Page
Show Entire Article
Real-Time Quote
omniture pixel