UPDATE: Stifel Nicolaus Cuts PT to $70 on SINA on Weak Guidance
Stifel Nicolaus reiterated its Buy rating on SINA (NASDAQ: SINA) but reduced its price target from $80 to $70.
Stifel Nicolaus said, "Sina is guiding for online advertising growth of 7% y/y in 4Q12 (revenue of $110 million to $112 million), well below our projection of $130 million or 25% growth. In deconstructing the company's 4Q12 online advertising revenue guidance (Portal versus Weibo), we believe the company anticipates a shocking 14% year-over-year decline in portal revenue, and Weibo online advertising revenue of about $21.8 million, up 13% sequentially."
SINA closed at $53.10 on Thursday.
Latest Ratings for SINA
|Aug 2014||TH Capital||Downgrades||Buy||Hold|
|May 2014||Oppenheimer||Downgrades||Outperform||Market Perform|
|Apr 2014||Stifel Nicolaus||Maintains||Buy|
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