Jefferies Reiterates Buy on FB, GOOG, AMZN, SNAP, MTCH, IAC, LYFT, EXPE, GDDY, WIX, CHGG, YELP, UPWK; Maintains Hold on BKNG, TWTR, TTD, ZG, GRUB, RDFN, SONO
- Reiterates Underperform on EBAY, TRIP, SSTK, EIGI
- Firm is positive on Internet sector fundamentals ahead of 4Q, but remains stock selective
- Firm believes FB is the most de-risked setup in large cap with the FY20 outlook already known and compelling valuation
- Firm also likes GOOG, as estimates seems conservative and the stock trades at a discount to its EBITDA growth
- Firm's S-mid cap picks are WIX and GDDY
- Firm notes TWTR, GRUB and EXPE have the most controversial setups