SINA Corporation's PT Raised To $82, Growth Driven By Weibo Says PiperJaffray

Piper Jaffray has published a research report on SINA Corporation

after the company has experienced siginifcant improvements to shares over the last few months due largely in part to Weibo. In the report, Piper Jaffray writes "We believe Weibo has been a significant driver of SINA shares over the past 3-6 months with over 50 million users as of October of last year, adding 10 million users per month. We believe Sina could ultimately monetize Weibo users at potentially $1-2 dollars per users within the next 3-5 years through sponsored posts and a daily deal service. However, we also note that given unrest in the Middle East, there have been concerns that Weibo could be affected. We believe there is only a small (<20%) chance that Weibo is shut down in the next month." Piper Jaffray maintains its Neutral rating and has raised the price target from $50 to $82. SINA Corporation closed yesterday at $78.12.