On September 30, Guolonghui | Weibo (WB.US) rose more than 4.7% in pre-market trading, reaching $10.38. In terms of news, Citigroup released a report stating that the target price of Weibo has been raised from $11 to $12, and initiated a 90-day positive catalyst observation, maintaining a "buy" rating in anticipation of a rebound in advertising revenue growth. The bank believes that the monetary and fiscal policy stimulus aimed at resuming economic growth and achieving GDP targets in the mainland last week is expected to translate into higher advertising spending by enterprises and brands to boost sales.
美股异动｜微博盘前涨超4.7% 花旗对其开启90天正面催化观察并上调目标价
US stock anomaly | Weibo rose more than 4.7% before the market, Citigroup opened a 90-day positive catalytic observation on it and raised the target price.
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