Deutsche Bank Upgrades Sina Corp (SINA) to Buy
SINA Hot Sheet
Rating Summary:14 Buy, 5 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 16 | Down: 7 | New: 23
Deutsche Bank upgrades Sina Corp (Nasdaq: SINA) to Buy. price target $52.
Deutsche analyst says, "We upgrade Sina to BUY on improving ad spend outlook in 2010. Mgmt on its call reflected on significant trend improvement since Sep. Channel checks suggest advertisers are generally optimistic on ad spend in 2010 as macro improves. Current valuation looks compelling in light of early stages of rapid earning expansion...For 2010, we expect online ads to grow 37%, driven by continued macro recovery. In looking at 2010 budget allocation, mgmt expects a strong rebound from 2009 as advertisers regain confidence. More importantly, advertisers are shifting ad budgets online in planning for 2010. Mgmt moreover sees scope for ad rate improvement in 2010."
To see more analyst ratings on SINA Click Here.
SINA Corporation operates as an online media company and information service provider in the People's Republic of China.
Deutsche analyst says, "We upgrade Sina to BUY on improving ad spend outlook in 2010. Mgmt on its call reflected on significant trend improvement since Sep. Channel checks suggest advertisers are generally optimistic on ad spend in 2010 as macro improves. Current valuation looks compelling in light of early stages of rapid earning expansion...For 2010, we expect online ads to grow 37%, driven by continued macro recovery. In looking at 2010 budget allocation, mgmt expects a strong rebound from 2009 as advertisers regain confidence. More importantly, advertisers are shifting ad budgets online in planning for 2010. Mgmt moreover sees scope for ad rate improvement in 2010."
To see more analyst ratings on SINA Click Here.
SINA Corporation operates as an online media company and information service provider in the People's Republic of China.
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