SINA downgraded by Citi to HOLD ????

SINA was downgraded by Citigroup Jason from buy to a hold......

Their rationale is focussed on declining mobile revenue...which is known to everybody's mother & brother for 2 years now.........

Ironically where Citi is hung-up SINA is projecting "stable mobile rev now"

So CITI call is backward looking...and analyst alway's look to future trend ????

So CITI maybe looking for "your shares...so they can upgrade later"

If you ask me @ $45 ......SINA is in "support area" and on a PE basis it is a "screaming BUY compared to SOHU.......

Here is the table to document my point :

...............................SOHU.....................SINA

Current price..............$51.39....................$45

Sales 12/07...............$177.62m................$245.76 m

EPS 12/07..................82 cents.................$1.05

PE today....................62.67......................42.86

So the conclusion is that SINA is being discounted by CITIGROUP analyst Jason by 31.6% compared to SOHU lower Sales & EPS......

So far Citigroup have accumulated only 99,550 shares till 9AM..in pre-market...so there is more than few of us who are not buying citigroup negative hold rating......more power to small investors !!!!

Please do your own homework and find your own comfort level with SINA & other stocks.

CPI was in-line in core.....

Markets should close strong ...as selling is getting very tired......sellers are crawling now......

This relentless selling has just about has run its course...and we are putting a "very strong support for this market...which will give us a strong rally into end of this year"

Good luck for today's close.

BLOG does not give buy or sell.

Saleem