Credit Suisse Starts Weibo Corp (WB) at Outperform
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Credit Suisse analyst Thomas Chong initiates coverage on Weibo Corp (NASDAQ: WB) with a Outperform rating and a price target of $72.00.
Chong calls WB a "a unique social media platform launched in 2009 with a huge user base and one of the few apps in China with more than 100 mn daily active users (DAU)."
They use PEG as their valuation methodology and estimate a three-year earning CAGR of 24%.
Shares of Weibo Corp closed at $60.90 yesterday.
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