Bloomberg News

Sina Falls to Lowest Since January as Maxim Cuts Revenue Outlook

July 02, 2012

Sina Corp. (SINA:US), the Chinese operator of the Twitter-like Weibo service, retreated to the lowest level since January after Maxim Group LLC reduced the company’s revenue forecast.

Shanghai-based Sina lost 3.9 percent to $49.81 at 1:12 p.m. in New York, the lowest since Jan. 9.

Sina will probably report sales of $547 million this year, Echo He, an analyst at Maxim Group in New York, wrote in an e- mailed report today. He’s previous forecast was for $560 million. Maxim’s He also lowered the 12-month target price on the shares to $44 from $45.

To contact the reporter on this story: Leon Lazaroff in New York at llazaroff@bloomberg.net

To contact the editor responsible for this story: Tal Barak Harif at tbarak@bloomberg.net


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Companies Mentioned

  • SINA
    (SINA Corp/China)
    • $45.13 USD
    • -0.22
    • -0.49%
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