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Here are SunTrust's favorite new internet stock picks for the next year

Visitors browse at the display of Expedia during the International Tourism Trade Fair in Berlin.
Fabrizio Bensch | Retuers

SunTrust shared with its clients the firm's best current internet stock picks over the next 12 to 18 months and initiated coverage on big names, including Facebook, Alphabet, and Expedia.

"As we look out to the rest of 2017 and 2018, we believe that value will continue to accrue to larger, stronger player, and to differentiated, attractively priced SMID [small- and mid-cap equities]," wrote analyst Naved Khan. "As such, we favor high-quality names with identifiable catalysts at reasonable prices."

Each pick and price target is based on a 12- to 18-month time horizon and represents a peek at the analysts' thinking.

Here are four internet companies that made SunTrust's recommended list and their price targets.