Sina Corp., owner of China’s third- most visited website and the Twitter-like Weibo service, jumped as much as 6.6 percent in New York trading after Goldman Sachs analyst upgraded the company’s rating.
The shares gained 5.4 percent to $94.05 at 10:42 a.m. New York time, heading for the highest close since June 8. Earlier, the stock reached as high as $95.29.
Analysts at Goldman Sachs Group Inc. led by Catherine Leung revised the recommendation on the company to “neutral” from “sell” in a research note dated June 25. They maintained a price target of $87.
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