Goldman Sachs Lifts Price Target on SINA (SINA)

Goldman Sachs raised its price target on SINA Corporation (NASDAQ: SINA) from $87 to $95, but kept its Neutral rating following Q2 results and guidance in-line with the consensus but below the firm's estimates.

The firm said, "We believe Weibo sustaining solid user growth momentum in 2Q, with ongoing product enhancements and preparation for monetization should reassure investors who are hopeful on Weibo’s potential, with actual revenue generation will not start until 1H12 and meaningful evaluation is not likely until 2H12."

Further catalyst for Weibo hinge on confidence of its revenue potential and user activity enabling product sustainability/monetization, the analyst also said.

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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