Citigroup raises Weibo's PT on potential gains from China's stimulus measures
** Brokerage Citigroup raises PT on Chinese social media advertising firm Weibo WB.O to $12 from $11
** U.S.-listed shares of Weibo up ~6% at $10.49 premarket following a climb in domestic stocks after recent stimulus measures from Chinese leaders to revive domestic economy
** Believe monetary and fiscal policy stimulus to boost growth in Q4 of 2024 and expect businesses and brands to increase advertisement spending to boost sales - Citigroup
** Adds, Weibo's online ad revenues to see potential gains from its social influences that attract both brands and performance-based advertisers
** Notes, Weibo could benefit from ecommerce platforms like Alibaba Group Holding BABA.N and major brands stepping up their marketing promotions to boost their singles day sales
** Eleven of 23 brokerages rate the stock "buy" or "higher", 10 "hold" and two "sell"; their median PT is $9.77 - LSEG
** Up to last close, WB down 0.36% YTD
Reporting by Anuja Bharat Mistry in Bengaluru
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