Goldman Sachs Downgrades SINA Corporation (SINA) to Sell, Sees 26% Downside
Tweet Send to a Friend
Get Alerts SINA Hot Sheet
Price: $58.15 +1.47%
Rating Summary:
19 Buy, 3 Hold, 4 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Rating Summary:
19 Buy, 3 Hold, 4 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Trade SINA Now!
Goldman Sachs downgraded SINA Corporation (NASDAQ: SINA) from Neutral to Sell citing unfavorable risk-reward. The price target was raised from $78 to $105, suggesting 26% downside.
The analyst believes the stock is now being mainly driven by expectations that Weibo will evolve from a social media into a fully fledged social network, which they say will be "challenging."
"In our new analysis, we believe the most likely outcome is for Weibo to become an alternative loosely-engaged social network weighted toward its distinctive social media elements, and for Tencent Pengyou to become the dominant social network in China by leveraging its much larger QQ community and more developed platforms."
For more ratings news on SINA Corporation click here and for the rating history of SINA Corporation click here.
Shares of SINA Corporation closed at $142.83 yesterday, with a 52 week range of $32.00-$147.12.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
The analyst believes the stock is now being mainly driven by expectations that Weibo will evolve from a social media into a fully fledged social network, which they say will be "challenging."
"In our new analysis, we believe the most likely outcome is for Weibo to become an alternative loosely-engaged social network weighted toward its distinctive social media elements, and for Tencent Pengyou to become the dominant social network in China by leveraging its much larger QQ community and more developed platforms."
For more ratings news on SINA Corporation click here and for the rating history of SINA Corporation click here.
Shares of SINA Corporation closed at $142.83 yesterday, with a 52 week range of $32.00-$147.12.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
You May Also Be Interested In
- UPDATE: MKM Partners Downgrades Alkermes (ALKS) to Sell
- Stifel Nicolaus Downgrades Cirrus Logic (CRUS) to Hold
- Goldman Sachs Downgrades Aixtron (AIXG) to Neutral
Create E-mail Alert Related Categories
Downgrades, Hot DowngradesRelated Entities
Goldman SachsComments
Sina
Weibo is much more popular than pengyou and ren ren. Saying tencent will overtake weibo is like saying msn messenger should overtake twitter or Facebook. Now does anyone use msn messenger's msn spaces or blogs even when it's so conveniently integrated? People will QQ for communication, baidu for search and weibo for social media. Sina's price is high but it might be worth it for weibo
Login with Facebook
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
BIDU
Nadal on Apr 21, 2011 08:41 PMMark as Spam | Reply to this comment
I still remember GS downgrade for BIDU two years ago, look where is Bidu now.
Never trust these analyst, do your own researh