UPDATE: Morgan Stanley Initiates Coverage On Weibo Awaiting Margin Visibility
In a report published Monday, Morgan Stanley analyst Philip Wan initiated coverage on Weibo (NASDAQ: WB) with an Equal-Weight rating and $21.40 price target.
In the report, Morgan Stanley noted, “We like Weibo's leadership in online social media and its multiple monetization opportunities. We would turn more positive on faster-than-expected monetization from its new services (i.e. promoted feeds and social e-commerce) and improved margin visibility.”
Weibo closed on Friday at $18.54.
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