China’s Sina Corp. Rises in New York After Goldman’s Upgrade

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.

To contact the reporter on this story: Belinda Cao in New York at

To contact the editor responsible for this story: David Papadopoulos at

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.