UPDATE: Deutsche Bank Reiterates Buy Rating, Raises PT on Sina Corp. on Improving Margin Outlook
In a report published Wednesday, Deutsche Bank reiterated its Buy rating on Sina Corp. (NASDAQ: SINA), and raised its price target from $57.70 to $63.30.
Deutsche Bank noted, “Sina's 4Q results demonstrate Weibo monetization is on track and that fee-based services are complementary to ads revenue. As a result, margin pressure from Weibo declined, as Weibo revenue ramped up. We believe this trend will continue to play out in 2013, leading to a significant margin improvement over the next 12 months. Buy on potential earnings upside in 2013.”
Sina Corp. closed on Tuesday at $53.48.
Latest Ratings for SINA
|Nov 2014||Stifel Nicolaus||Downgrades||Buy||Hold|
|Aug 2014||TH Capital||Downgrades||Buy||Hold|
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.