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Fly News Breaks for November 19, 2015
WB, SINA
Nov 19, 2015 | 10:12 EDT
Piper Jaffray analyst Gene Munster noted that SINA (SINA) shares still trade near the market value of its stake in Weibo (WB) plus cash, meaning investors give the compnay no credit for its core portal business or its investment portfolio. Munser, who still thinks that SINA is undervalued on a sum-of-the-parts basis, keeps an Overweight rating on the stock and raised his price target on shares to $56 from $55 to account for Weibo appreciation.
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