2025-06-04-Jefferies-下半年互联网布局电话会议邀请_6页_77kb

Summary of Equity Research Report: USA Internet

The report, dated June 4, 2025, focuses on Internet sector analysis and upcoming discussions for the second half of the year. It invites participation in a webinar by Jefferies analysts to cover key debates in Internet, trading flows, and best investment ideas.

The event is scheduled for Tuesday, June 10th, at 11:00 AM ET (8:00 AM PT), with registration available at the provided link. Key speakers include John Colantuoni (Internet Analyst), James Heaney (Internet and Interactive Entertainment Analyst), and Jeff Favuzza (TMT Sector Specialist).

Relevant sub-sectors covered in the research include Advertising, Auto-tech, Dating, Delivery and Mobility, Digital Media, Ecommerce, Online Travel, Prop-tech, and Video Games.

The report introduces Jefferies' equity research framework, including analyst certifications that ensure views reflect personal judgments, with no compensation tied to specific recommendations. Ratings are defined as follows: "Buy" targets at least 15% total return (price appreciation plus yield) over 12 months; "Hold" yields between +15% and -10%; "Underperform" is 10% or less. Valuation methods use metrics like DCF, EBITDA, and P/E ratios.

Jefferies Franchise Picks highlight high-conviction stock selections rated "Buy," based on fundamental analysis and risk/reward factors, with additions and removals based on performance and market conditions.

Disclosures emphasize potential conflicts of interest, as Jefferies maintains business relationships with researched companies, which may affect objectivity. Investors are warned about risks like market volatility, currency fluctuations, and the uncertainty of past performance guaranteeing future results. Ratings and price targets are subject to change, and not all investors may be suitable.

This report is intended solely for Jefferies clients and should inform investment decisions, but not be relied upon as sole guidance.