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Fly News Breaks for January 8, 2019
WB
Jan 8, 2019 | 08:01 EDT
As previously reported, Morgan Stanley analysts led by Grace Chen downgraded Weibo to Equal Weight from Overweight because they believe rising competition will cap its margin expansion potential. While Weibo's content ecosystem is hard to replace with other apps, rising sales and marketing investments are expected to likely lead to declining margins in 2019, said the team, which lowered the price target on Weibo shares to $66 from $72.
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