Market Overview

UPDATE: Deutsche Bank Reiterates Buy Rating, Lowers PT on Sina Corp.

Share:
Related SINA
Jupai to Issue New Shares to Julius Baer, SINA Priced @$1.83/Share
Early Global News: Virtual Reality Market Getting Really Big, Facebook To Sell You Concert Tickets, And More

In a report published Wednesday, Deutsche Bank reiterated its Buy rating on Sina Corp. (NASDAQ: SINA), but lowered its price target from $64.50 to $57.70.

Deutsche Bank noted, “We attribute Sina's soft 4Q guidance largely to cyclical and one-off factors. Weibo remains structurally under-monetized against its large traffic and Weibo rev growth should significantly drive Sina's earnings growth over the next 2 years. From a valuation perspective, the portal's under-performance and Weibo's outperformance translate to a rev mix shift from a low multiple to a high multiple business. We value the portal at US$14/share or 25% of total TP.”

Sina Corp. closed on Tuesday at $47.00.

Latest Ratings for SINA

DateFirmActionFromTo
Nov 2015Goldman SachsDowngradesBuyNeutral
Nov 2015Brean CapitalMaintainsBuy
Oct 2015CitigroupDowngradesBuyNeutral

View More Analyst Ratings for SINA
View the Latest Analyst Ratings

Posted-In: Deutsche BankAnalyst Color Price Target Analyst Ratings

 

Related Articles (SINA)

Get Benzinga's Newsletters