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Fly News Breaks for August 19, 2019
WB
Aug 19, 2019 | 14:39 EDT
As previously reported, CLSA analyst Elinor Leung upgraded Weibo to Buy from Outperform after the company's Q2 earnings beat estimates, stating that competitive pressure appeared to stabilize in the quarter and user growth improved. While the analyst lowered her adjusted earnings forecasts for 2019 and 2020 and trimmed her price target on Weibo shares to $54 from $60, she noted that the stock has fallen 37% year-to-date and her new target implies 35% upside.
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