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Here are Jefferies' favorite internet stocks for 2019

Traders work at the offices of CMC Markets in the City of London on December 10, 2018 as Britain's Prime Minister Theresa May makes a statement in the House of Commons announcing the government's intention to delay the 'meaningful' vote on the Brexit withdrawl agreement.
Daniel Sorabji | AFP | Getty Images

Jefferies put together a list of its top picks in the internet industry for 2019, seeing as much as a 40 percent upside with some stocks.

Amazon, Alphabet and GoDaddy are among the stocks that Jefferies is bullish on in the new year. The bank overall holds a more cautious view in the internet sector in light of an earnings growth slowdown.