Glonghui, March 18 | J.P. Morgan Chase published a research report stating that investors' overall interest in online business has increased, and Weibo's stock price performance has also improved relatively since February. However, due to low advertising demand and loss of market share due to competition, the bank remains cautious about Weibo's prospects. However, the bank believes that the Group's return on value to shareholders provides downward protection for current stock prices. Although the valuation is close to a record low, investors are still advised not to re-examine the Group and maintain its “neutral” rating until China's online advertising prospects begin to improve. The target price was lowered from HK$90 to HK$84. The bank expects that based on a fixed exchange rate, the Group's core advertising revenue will drop slightly by 2% year-on-year in the first quarter of this year and remain flat throughout the year. It also expects the company's total advertising revenue to rise by 2%; operating profit margin and net profit margin for the whole year will drop slightly. The bank believes that the Group's profit growth prospects for this year are still weak, and it is expected that net profit will decline in annual units. Based on anticipated increases in operating expenses, this year's non-GAAP earnings per share will also be cut by 13%.