UPDATE: Morgan Stanley Reiterates on Sina on Growing Weibo Monetization, Low Margin Visibility

In a report published Wednesday, Morgan Stanley analyst Philip Wan reiterated an Equal-Weight rating on

, but lowered the price target from $82.00 to $81.00. In the report, Morgan Stanley noted, “Sina is the second-most-trafficked online portal in China and no.2 in online brand advertising sales. Weibo monetization, via advertising and paid services, may emerge as a new sales growth driver for Sina. Weibo may account for 40-50% of Sina's total revenues in 2014, on our estimates.” Sina closed on Tuesday at $68.98.