Qihoo (QIHU +7.3%) will be able to "generate material search revenues in the coming quarters,"...

Qihoo (QIHU +7.3%) will be able to "generate material search revenues in the coming quarters," with the majority eventually coming from its own ad sales efforts rather than via Google, says Maxim's Echo He in a note lifting shares to new highs. He admits Google could do a better job of monetizing Qihoo search than Qihoo itself over the near-term, but sees the company's sales investments paying off long-term. Qihoo's relatively low capex (it has a 2013 budget of $70M-$80M) also sits well with He. (Barclays) (Google deal)