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Get Four
|  | FEBRUARY 22, 2005
 WORD ON THE STREET Piper Jaffray Ups Sina Target Analyst Safa Rashtchy says that Shanda's planned 19.5% stake will set a new profile in the Chinese Internet portal Piper Jaffray ups its target for Chinese internet-portal Sina Corp. (SINA ). Analyst Safa Rashtchy says Shanda's announcement that it bought a 19.5% stake in Sina sets new profile for Sina -- one that's dominated by its brand name and a major position as a media company in China, rather than its unstable wireless business. He says Shanda has signaled to markets it finds Sina's current valuation too low. He notes potential cooperation that a new equity stake may bring would combine two of the strongest names in China, and could give Sina access to Shanda's strong user relationship and know-how. The company raises Sina's $22 target to $31. It maintains market perform.  All of the views expressed in this research report accurately reflect the research analyst's personal views regarding any and all of the subject securities or issuers. No part of analyst compensation was, is or will be, directly or indirectly related to the specific recommendations or views expressed in this research report. Standard & Poor's Regulatory Disclosure Any advice, analysis, or recommendations contained in articles labeled "Insight from Standard & Poor's" reflect the views of Standard & Poor's, which operates separately from and independently of BusinessWeek Online. It is possible that BWOL may from time to time publish information that is not consistent with advice, analysis, or recommendations that are published by Standard & Poor's. Standard & Poor's and BusinessWeek Online are each units of The McGraw-Hill Companies, Inc.
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