Chinese Official Sees Positive Social Impact from Weibo; SINA (SINA) Shares Surging

Shares of SINA Corp. (Nasdaq: SINA) are up about 9 percent Thursday morning following comments from the Chinese Community Party's Deputy Minister of Propaganda.

As highlighted in a research note from Susquehanna's C. Ming Zhao, Wang Chen, at a recent meeting of the National Internet Information office, emphasized the positive social impact of SINA's Weibo service. The Deputy Minister is urging officials within China to use Weibo to improve it's own services, according to Zhao.

The Susquehanna analyst argues the development may push Sina to focus on commercialization of Weibo. Zhao believes SINA may have been focused on overcoming regulatory hurdles previously.

Susquehanna maintains a Positive rating and $135 price target on shares of SINA.

To track all the market-moving analyst calls on shares of SINA, visit our Analyst Ratings page.

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