Credit Suisse Positive Coverage on Internet/Social Media (AMZN, EBAY, GOOG, FB, GRPN, YHOO)

We have offered a synopsis of each call below and shown the price target objectives, with added color if applicable.

Amazon.com Inc. (NASDAQ: AMZN) was started as Outperform with a $301 price target. The firm’s thesis remains unchanged and it sees Amazon as a best-of-breed technology company that is well positioned to capitalize on the secular growth of ecommerce as a share gainer.

eBay Inc. (NASDAQ: EBAY) was started as Outperform with a target price of $47. The firm is positive on eBay’s fundamentals, based on sustainable double-digit revenue growth for PayPal with expanding margins over the long run. It expects that the Marketplaces segment will continue to show further signs of stabilization.

Google Inc. (NASDAQ: GOOG) was started as Outperform with an $850 price target. The firm continues to believe that Google can grow revenue and earnings at a mid to high teens growth rate over the next five years.

Facebook Inc. (NASDAQ: FB) was started with a Neutral rating and a price target of $24 that still implies upside of about 18%. Credit Suisse actually said it continues to have a positive long-term bias on Facebook as it is positioned to capitalize on social media and gain share of the $360 billion or so of the global brand advertising market.

Groupon Inc. (NASDAQ: GRPN) was started as Neutral with a price target of $11, which is weird that it would have a Neutral rating if it implies 100% upside. Spencer Wang said that he is waiting for the company to deliver on the original strategy of transitioning away from being a more marketing-driven to being more of a technology-driven franchise, as it makes use of user behavioral data it has collected to deliver a more relevant deal experience.

Yahoo! Inc. (NASDAQ: YHOO) was started as Neutral with a $19 price target. The firm said that Yahoo! is viewed merely as a perpetual turnaround story, but it did say that downside is likely limited due to its off-balance sheet Asian assets and an undemanding valuation of its core business.

JON C. OGG