Morningstar - SINA Corp. (SINA) Lowering Our Sina FVE to $118; Shares Remain Undervalued

Report

Morningstar

Chelsey Tam

EUR 100.00 For Business Accounts Only

Lowering Our Sina FVE to $118; Shares Remain Undervalued

We have reduced our fair value estimate for Sina to $118 per share from $131 to reflect weaker-than-expected implied fourth-quarter guidance, regulatory concerns about advertising customers, weaker advertising demand amid a slowing economy, strengthening competition, and increasing ad load in Chinaâ€™s advertising space. Given our long-term investment horizon, we expect the near-term weakness will be partly mitigated by an expected recovery in the economy and therefore advertising demand in 2021 a...

10/12/2018 14 EN

Underlying

SINA Corp.

Sina is an online media company serving China and the global Chinese communities. Co.'s digital media network includes SINA.com (It offers professional content on each of its region specific websites), SINA.com (It provides information and entertainment content from SINA portal customized for WAP users) and Weibo (It is a form of social media, featuring microblogging services and social networking services that allow users to connect and share information). Co. offers an array of services including mobile value added services, online video, music streaming, online games, photo sharing, blog, email, classified listings, fee-based services, e-commerce and enterprise services.

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KYG814771047 NASDAQ Stock Market Cayman Islands

Provider

Morningstar

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.

Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.

We have operations in 27 countries.

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Analysts

Chelsey Tam

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Lowering Our Sina FVE to $118; Shares Remain Undervalued

Monthly LMI Update Independent Investment Research

SINA sees an upgrade to Positive due to a better fundamental star rating

Naver Corporation - Mergers & Acquisitions (M&A), Partnerships & Alliances And Investments

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Sasol Provides Full-Year Production Update

Astra Posts Solid 2Q, Driven by Strong Cancer Drug Sales and Moving Away From One-Time Divestments

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