Here are Citi's top five buy-rated Internet stocks.
May, who has an $1,100 price target on Google, believes the Mountain View, Calif.-based company is the best combination of growth, price and long-term confidence in both management and a strong position in several growth areas.
In the short run, May believes Google could see a benefit as mobile ads might start to boost, rather than hurt revenues.Google is scheduled to report second-quarter results on July 15. Analysts polled by Thomson Reuters are looking for earnings of $10.78 per share on $14.45 billion in revenue. Shares have outperformed the broader Nasdaq significantly this year, as several analysts have put $1,000 price targets on the Internet search giant. Google shares have gained 27.97% year-to-date. GOOG data by YCharts