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Fly News Breaks for May 12, 2016
WB, SINA
May 12, 2016 | 07:20 EDT
Brean Capital said they believe SINA (SINA) shares are undervalued at current levels after the company reported top line growth exceeding expectations. The firm cited growth from Weibo (WB), which showed accelerating user growth and monetization. Brean Capital feels Weibo is well positioned to capture the rising opportunities of China's mobile and social advertising market. The firm reiterated its Buy rating and $55 price target on SINA shares.
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