Deutsche Bank Maintains a 'Buy' on SINA Corporation (SINA); Q2 Beat on Investment Gains; Weibo Ads to Grow

Deutsche Bank maintains a 'Buy' on SINA Corporation (NASDAQ: SINA) price target of $70.00.

Analyst, Alex Yao, said, "2Q GAAP EPS of US$0.49 beats the Deutsche Bank estimate (DBe) (negative US$0.02) and consensus (negative US$0.07). The earnings surprise primarily came from higher-than-expected equity investment gain (~US$32.8m). Operating profit was US$0.2m vs. DBe of negative US$3m. 2Q revenue was RMB132m, 2% below our forecast and 3% above consensus."

Yao expects SINA to launch several commerical products in the second half 2012, including promoted tweets, Weibo 5.0 and self-service ad system. Yao expects ads Weibo ad revenues will be at $30M by 2012 end.

For an analyst ratings summary and ratings history on SINA Corporation click here. For more ratings news on SINA Corporation click here.

Shares of SINA Corporation closed at $50.90 yesterday.

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