WB: Improving User Engagements and Monetization; Initiate with a Buy Rating

  • WB: Improving User Engagements and Monetization; Initiate with a Buy Rating

We are initiating on Weibo Corporation with a Buy rating. We believe the company is undervalued compared to its revenue and earning potentials, which was a major concern among investors. The concern we believe is mainly due to two issues: 1) slowdown in user growth and engagement level; and 2) limited methods of monetization. At this point, we believe these two issues are being addressed, and as such the revenue potential can be realized in the near future. Therefore, we initiate our coverage of Weibo with a BUY rating and price target of $24.00.

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T.H. Capital is an independent research and investment advisory firm specializing in China. We offer real-time, on-the-ground, bottom-up research across a wide spectrum from macro and industry analysis to company specific projects, from China ADRs to international names that have meaningful exposure to the China market. We deliver relevant, comprehensive and data driven research adding immense value to clients.
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