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Fly News Breaks for May 24, 2019
WB, SINA
May 24, 2019 | 09:29 EDT
Benchmark analyst Fawne Jiang lowered her price target on Sina (SINA) to $78 from $108 following the company's report of mixed Q1 results, noting that management expects potential downside to its FY19 revenue guidance given that both Weibo (WB) SME ads and Sina portal ads are facing ongoing industry headwinds. Jiang also lowered her price target to $51 from $81 on Weibo shares following its mixed Q1 results, though she keeps Buy ratings on both stocks.
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