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
|Apr 2015||Summit Research||Initiates Coverage on||Hold|
|Mar 2015||Bocom||Downgrades||Long-term Buy||Neutral|
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.