Brean Murray Carret & Co. Assumes Coverage on SINA Corporation (SINA) at Buy; Weibo Offers Ample Runway for Growth

August 19, 2011 7:07 AM EDT
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Price: $47.92 +3.84%

Rating Summary:
    14 Buy, 13 Hold, 2 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 13 | Down: 22 | New: 40
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Brean Murray Carret & Co. assumes coverage on SINA Corporation (NASDAQ: SINA) with a Buy. PT $128.00.

Brean analyst says, "We assume coverage of SINA with a Buy rating. We view SINA a compelling investment opportunity as we believe SINA Weibo, while at early stage of development, will be a transformable product for SINA and offers ample runway for growth. With 200+ million users under its belt, we see strong growth momentum and improving monetization visibility. SINA’s recent product rollouts as well as its pipeline suggests a clear path of moving towards a full-blown SNS platform."

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 $96.20 yesterday.

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