UPDATE: Goldman Sachs Reiterates Neutral Rating, Raises PT on Sina Corp. on 4Q12 Revenues
In a report published Wednesday, Goldman Sachs reiterated its Neutral rating on Sina Corp. (NASDAQ: SINA), and slightly raised its price target from $57.00 to $58.00.
Goldman Sachs noted, “Sina reported 4Q12 non-GAAP net revenues of $134.4mn, in line with GSe/Bloomberg consensus. Non-GAAP operating profit was 10% above GSe, but was offset by higher tax and equity investment loss from EHouse. Non-GAAP EPS of $0.13 was $0.03 below our estimate, though $0.07 above consensus. 1Q13E non-GAAP revenues were guided to $115- 119mn, +15% yoy at the midpoint, in line with GSe/consensus.”
Sina Corp. closed on Tuesday at $53.48.
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