Sina and micro-blog performance is expected to increase both the micro-blog price target to $60 zhongguorentiyishu

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Sina and micro-blog performance is expected to increase both the micro-blog price target to $60 to view the latest quotes Sina Francisco September 30th noon news, recently, the famous Wall Street investment bank Furui (Jefferies) released called "China Internet Tour" of the investment report by Baidu, micro-blog and other company executives and industry experts interview, Chinese forecast the future direction of the internet. The report raised micro-blog and Sina both in 2016 and 2017 revenue and net profit is expected at the same time, micro-blog will target price raised to $43 from $60, the Sina price target raised to $67 from $95. The following is the main points of the report: in our "China Internet journey", we met with the management of micro-blog and other companies, as well as industry experts. Survey of the industry, Baidu, Tencent, micro-blog and other companies focused on different vertical industries, which continue to show strong user participation in micro-blog. We raised micro-blog’s target price from $43 to $60, and Sina’s target price increased from $95 to $67. In the trend of social marketing based on fans, micro-blog is leading micro-blog continues to show a strong user participation trend. According to QuestMobile data, the number of monthly active users of micro-blog in August 2016 grew by 86%, the user use time increased by 106%. As a unique KOL incubator platform, we believe in the trend of social marketing based on fans, micro-blog will still be the main beneficiaries. KOL conversion rate than the electricity supplier C2C store 57% higher. Technology optimization, as well as cooperation with suppliers, especially Ali cloud, driven by the decline in the cost of micro-blog unit bandwidth, and the consequent profit growth. We expect micro-blog’s 2016 and 2017 non GAAP (Non-GAAP) operating margin was 25% and 31%, higher than in the year of 13%. We will micro-blog 2016 and 2017 revenue expectations were raised by 1.2% and 2.7%, and net profit is expected to increase by up to $8.8% and $10.1%, respectively. In similar applications, Sina mobile applications continue to show the fastest growth. According to QuestMobile data, in August 2016 the number of monthly active users was 45 million, up to 4 times in August 2015. Taking into account our expectations for micro-blog adjustment, as well as Sina’s holdings of micro-blog, we will be 2016 and 2017 Sina revenue expectations were raised by 0.8% and 2%, and net profit is expected to increase by up to $6.9% and $2.7%, respectively. Valuation micro-blog: maintain buy rating and target price increase of 40% to $60. This is based on earnings growth ratio (PEG) 0.8 times (consistent with the average level of global social media peers), as well as from to 2016, the compound annual growth rate of profit of 58%. This means that in 2017 the forward price earnings ratio of 47 times, compared with the average level of the Internet industry is more than 31 times higher than the Twitter of $52%, an increase of 41.相关的主题文章: