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Fly News Breaks for November 5, 2018
WB, SINA
Nov 5, 2018 | 07:47 EDT
Benchmark analyst Fawne Jiang lowered her price target on Sina (SINA) shares to $96 from $119, citing recent headwinds to Weibo's (WB) ad growth and an increasingly negative currency impact. She still believes Sina shares are undervalued considering the company's majority ownership in Weibo, large cash balance and investments in other valuable assets and keeps a Buy rating on the stock.
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