Deutsche Bank Says Sina (SINA) Weakness to Continue in Q1, Sees Q2 Rebound

Deutsche Bank maintained a Buy rating on Sina Corporation (NASDAQ: SINA) and cut its price target to $57.00 (from $64.50). Sina reported Q3 results last week, and while EPS beat estimates, guidance was light.

Commenting on these developments, analyst Alex Yao of Deutsche Bank said, "We attribute Sina's soft 4Q guidance largely to cyclical and one-off factors."

These factors include today's macro environment and hiccups at Japanese auto makers.

"Given the current visibility, we expect brand ads weakness will continue into 1Q13 but could improve in 2Q13," added Yao.

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 $47.00 yesterday.

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