UPDATE: Stifel Nicolaus Lowers PT to $80 on SINA

Stifel Nicolaus lowers its price target on SINA

by $15 to $80 while reiterating its Buy rating on shares, as the company posted a disappointing guidance for 2012. Stifel Nicolaus says, "While 4Q11 reported results were fine, the company provided 1Q12 revenue guidance below expectations, stated higher 1Q12 spending guidance points to an operating loss in the quarter, and outlined a pace of Weibo monetization slower than we hoped. Nonetheless we believe investors should use a sell-off of the shares as a buying opportunity. We maintain our Buy rating on SINA with a new lower target price of $80." SINA closed at $62.95 a share on Monday.