Analyst Roundup: Focus Media (FMCN), SINA (SINA)

Numerous analysts are out with notes on Focus Media (Nasdaq: FMCN) and SINA Corp. (Nasdaq: SINA) today, following news yesterday that SINA has offered to acquire Focus Media's digital out-of-home business. For the most part, analysts are seeing the deal as a positive for Focus Media and somewhat negative for SINA.

• Piper Jaffray issued a note saying Focus Media could be worth as much as $13-$14 if the deal closes. Until the deal closes, the firm maintains its Neutral rating and $10 price target.
  
• Citi upgraded Focus Media from Hold to Buy and increased its price target from $9 to $11.
  
• Susquehanna downgraded SINA from Positive to Neutral, saying "Every acquisition seems to have a strategic meaning, but we seldom find they work well, due to prolonged integration and overpaying for acquisitions."
  
• Sterne, Agee & Leach downgraded SINA Corp. from Buy to Neutral.

Shares of SINA are down again today after falling about 17% on yesterday's news. The stock most recently traded at $23.03, down 5% from yesterday's close. Meanwhile, shares of Focus Media are seeing decent upside today following a 16% slide in its stock price yesterday. Focus Media most recently traded at $9.52, up 3.5% today.

SINA Corporation, through its subsidiaries, operates as an online media company and information services provider in the People's Republic of China.

Focus Media Holding Limited operates out-of-home advertising network using audiovisual digital displays in the People's Republic of China.

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