Brean Murray Carret & Co. Reiterates a 'Buy' on SINA (SINA); Cutting Numbers on More Conservative Portal Growth

May 16, 2012 9:35 AM EDT
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Price: $67.74 -0.09%

Rating Summary:
    16 Buy, 11 Hold, 2 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 30 | Down: 30 | New: 23
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Brean Murray Carret & Co. reiterates a 'Buy' on SINA Corporation (NASDAQ: SINA) price target lowered from $92 to $82.

Analyst, Fawne Jiang, said, "In the longer term, we are positive on the huge growth potential of social network platforms in China and view SINA Weibo as having the potential to become a major player. In the near-term, we are encouraged by the monetization timetable confirmed by management and continued improvement/growth in user engagement/activities."

Jiang lowers PT on reduced multiples applied to SINA's portal business to 10x from 15x previously. FY12 EPS estimate cut from $0.62 to $0.24 and FY13 from $1.32 to $0.77, citing assumption of more conservative portal growth.

For an analyst ratings summary and ratings history on SINA Corporation click here. For more ratings news on SINA Corporation click here.

Shares of SINA Corporation closed at $51.68 yesterday.

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