Goldman Sachs Upgrades SINA Corporation (SINA) to Neutral

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Goldman Sachs upgraded SINA Corporation (NASDAQ: SINA) from Sell to Neutral saying following the recent underperformance they feel that downside to their $87 price target is now limited.

The firm said investors focus remains on Weibo and "far fewer expectations over its monetization potential have made the risk-reward more balanced." They still believe that Tencent represents a major obstacle to Weibo evolving into China's social graph.

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 $89.35 yesterday, with a 52 week range of $34.26-$147.12.

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