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Fly News Breaks for August 5, 2019
Aug 5, 2019 | 08:02 EDT
Jefferies analyst Thomas Chong assumed coverage of Sina with a Hold rating and $44 price target. Amid macro headwinds, the analyst expects Sina's legacy portal business to decline by about 20% year-over-year. Further, the company's new business is still in an early stage of development and should take time to bear fruit, Chong contends.
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