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Sina (SINA +11%) has received both an upgrade to Buy from BofA, and a downgrade to Hold from...

Sina (SINA +11%) has received both an upgrade to Buy from BofA, and a downgrade to Hold from Jefferies, after beating Q2 EPS estimates thanks to improving margins and slowing opex growth. Jefferies doesn't like the fact Sina's portal ad revenue grew only 1.5% Y/Y, thanks to macro conditions and share losses, and that Weibo enterprise account adds are missing targets. Also cautious is Goldman, which is worried Weibo ad sales are cannibalizing portal revenue. But with Sina well off its highs, bulls have the upper hand.
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