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WB: Weibo Stock Gains on Credit Suisse Coverage

Credit Suisse sets a $23 price target for WB stock


Weibo (WB) stock is up following coverage from Credit Suisse analyst Dick Wei.

wb-weibo-stockWei started coverage of WB stock on June 10 and has given it an Outperform rating. He also set a price target of $23 for the stock. Wei is expecting to see Weibo post earnings growth of $87 million in 2015. He then predicts that earnings will double to $174 million in 2016, Benzinga notes.

Wei’s price target for WB stock would have it increasing by roughly 23% from its price prior to his predictions. Morgan Stanley also provides coverage for Weibo and has a price target of $21.40 set for its stock, reports Mideast Time.

According to Benzinga, Weibo is a marketing company at its heart, but it also handles social e-commerce, game publishing, data licensing and more.

WB shares were up over 2% as of Tuesday afternoon.

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