Goldman Sachs Added Sina Corp (SINA) to its Conviction Buy List, Boosts Price Target
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Goldman Sachs added Sina Corp (Nasdaq: SINA) to its Conviction Buy List and raised its price target from $31 to $38, following Q1 results and meeting with Sina and others in the industry.
The firm said Sina is levered to the ad up-cycle and they expect growth to re-accelerating sharply in 2010. The firm also cites a favorable risk/reward.
Shares of Sina closed at $29.15 yesterday, providing 30% upside to the firm's new price target.
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