Downside in Chinese Internet Names Overdone; SINA (SINA) Will Be 'Meaningfully' Higher in a Year (EDU)
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Price: $18.99 +0.80%
Rating Summary:
8 Buy, 2 Hold, 0 Sell
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Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Rating Summary:
8 Buy, 2 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
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Roth Capital's Adam Krejcik is out defended stocks in the Chinese Internet sector Thursday morning following recent pessimism on New Oriental Education (NYSE: EDU). New Oriental shares have plunged more than 57 percent over just the last two trading sessions.
Krejcik called the concerns related to other companies in the Chinese Internet group overdone and suggested the situation at New Oriental is an isolated event for that company, not a "black swan" event.
The analyst specifically mentioned SINA (Nasdaq: SINA) as likely being "meaningfully" higher over the next year. Krejcik reiterated a Buy rating on SINA and reduced his price target on the stock from $100 to $90.
Shares of SINA are indicated to open up about 1.7 percent to $46.02. New Oriental Education shares, meanwhile, are up 8.6 percent at last check.
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Krejcik called the concerns related to other companies in the Chinese Internet group overdone and suggested the situation at New Oriental is an isolated event for that company, not a "black swan" event.
The analyst specifically mentioned SINA (Nasdaq: SINA) as likely being "meaningfully" higher over the next year. Krejcik reiterated a Buy rating on SINA and reduced his price target on the stock from $100 to $90.
Shares of SINA are indicated to open up about 1.7 percent to $46.02. New Oriental Education shares, meanwhile, are up 8.6 percent at last check.
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