Deutsche Bank Upgrades SINA Corporation (SINA) to Buy; More Visibility on Weibo Monetization

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Deutsche Bank upgraded SINA Corporation (NASDAQ: SINA) from Hold to Buy, raises price target from $92.40 of $94.80.

Deutsche analyst says, "Our upgrade of Sina goes beyond its growing presence in social gaming; Weibo monetization is approaching. We expect Weibo to become a profitable and scalable commercial platform as a core hub of activity in China. We see regulation risk waning. Social gaming is but part of a massively-diversified eco-system around Weibo, contributing to large-scale monetization."

"In the social gaming space, we expect Sina to remain a platform that provides great utility to participants in the eco-system. We specifically don’t expect Sina to become a social games developer, making it a unique play in China’s Internet space, where Tencent and Renren play a dual role of platform and developer."

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 $66.08 yesterday, with a 52 week range of $56.05-$147.12.

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