UPDATE: Pacific Crest Securities Reiterates On SINA On Regulatory Uncertainty

In a report published Thursday, Pacific Crest Securities analyst Cheng Cheng reiterated an Outperform rating on

, but lowered the price target from $88.00 to $75.00. In the report, Pacific Crest Securities noted, “Although the impact from the regulatory situation is still unclear, we believe SINA is taking a conservative approach to guidance and any impairment to SINA's portal business will only modestly affect our SoTP analysis. We still see a disparity between SINA's asset portfolio value and its stock value.” SINA Corporation closed on Wednesday at $47.88.