Wei 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.