On May 29 | Weibo (WB.US) fell 2.14% to $8.7 before the market. Nomura lowered its price target from $10.8 to $10. In addition, CMB International also stated that Weibo's first-quarter revenue fell 4% year-on-year to US$395 million, in line with the market and its expectations; thanks to operating cost controls that beat expectations, operating costs fell 10% year-on-year. The bank lowered the company's revenue forecast for this year to 2026 by 2%, reflecting a decline in the advertising budget for cosmetics and beauty brands. The target ADR price for Weibo was lowered from $18.8 to $17, maintaining a “buy” rating.
美股异动丨微博盘前跌逾2% 遭多家大行下调目标价
Changes in US stocks 丨 Weibo fell more than 2% before the market and many major banks lowered their target prices
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