Citi Raises Focus Media (FMCN), SINA (SINA) to Buy; China Internet, Media Sector Upgraded to Positive
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After receiving an upgrade from Morgan Stanley earlier, Focus Media (Nasdaq: FMCN) and SINA Corp. (Nasdaq: SINA) have now been hit with a set of intraday upgrades from an analyst at Citigroup.
Citi moved its investment rating on the two stocks from Hold to Buy.
The analyst also upgraded her sector rating on the China Internet and Media stocks to Positive today.
Shares of Focus Media are now up 13.4% to $14.74, while shares of SINA are up 6% to $40.98.
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