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Fly News Breaks for May 10, 2018
WB, SINA
May 10, 2018 | 08:16 EDT
Benchmark analyst Fawne Jiang said that Sina (SINA) reported "solid" Q1 results, which were mainly driven by robust growth at Weibo (WB). She expects Sina to remain a key beneficiary of Weibo's multifaceted growth and believes Sina shares are undervalued, leading her to maintain a Buy rating on the name. However, Jiang lowered her price target on Sina shares to $159 to account for changes in her sum-of-the-parts valuation.