BofA lowered the firm’s price target on Weibo (WB) to $8.50 from $8.90 and keeps an Underperform rating on the shares. Weibo’s topline was flattish year over year, slightly better than consensus, and ad revenue was also flattish y/y, better than the firm expected, the analyst tells investors in a research note. Weibo has an advantage in AI search for hot topics, trending news, and the entertainment sector and that it can increase search credibility by referencing to official accounts, the firm says.
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