Weibo price target lowered to $7.50 from $8 at Morgan Stanley

Morgan Stanley lowered the firm’s price target on Weibo to $7.50 from $8 and keeps an Underweight rating on the shares. The skincare/cosmetics vertical remains a drag, notes the firm, which trimmed its 2024-26 revenue forecasts 1-5%, reflecting weaker consumption sentiment and a “severe competitive threat” from short-form video platforms.