Nomura Upgrades Baidu, Inc. (BIDU) to “Buy”
Baidu, Inc. (NASDAQ:BIDU) was upgraded by equities research analysts at Nomura from a “neutral” rating to a “buy” rating in a report issued on Monday, July 31st, MarketBeat.com reports. The brokerage currently has a $241.00 target price on the information services provider’s stock. Nomura’s price target indicates a potential upside of 4.65% from the company’s previous close.
BIDU has been the topic of a number of other research reports. Macquarie raised Baidu from a “neutral” rating to an “outperform” rating and boosted their target price for the company from $189.00 to $252.00 in a report on Friday, July 28th. Jefferies Group LLC boosted their target price on Baidu from $188.00 to $208.00 and gave the company a “buy” rating in a report on Monday, May 1st. Benchmark Co. assumed coverage on Baidu in a report on Tuesday, April 18th. They issued a “buy” rating and a $190.00 target price on the stock. Sanford C. Bernstein reissued an “underperform” rating and issued a $152.00 target price (down previously from $188.00) on shares of Baidu in a report on Friday, July 14th. Finally, TheStreet lowered Baidu from a “b-” rating to a “c+” rating in a report on Thursday, June 22nd. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $209.80.
Baidu (BIDU) opened at 230.30 on Monday. The firm has a 50-day moving average of $196.29 and a 200-day moving average of $183.30. The company has a market capitalization of $79.86 billion, a P/E ratio of 43.16 and a beta of 1.95. Baidu has a one year low of $159.54 and a one year high of $233.37.
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Several large investors have recently bought and sold shares of the stock. Grove Bank & Trust raised its stake in Baidu by 74.2% in the second quarter. Grove Bank & Trust now owns 594 shares of the information services provider’s stock worth $106,000 after buying an additional 253 shares during the period. Shine Investment Advisory Services Inc. acquired a new position in shares of Baidu during the second quarter worth approximately $112,000. Harbour Capital Advisors LLC increased its position in shares of Baidu by 17,786.3% in the second quarter. Harbour Capital Advisors LLC now owns 20,927 shares of the information services provider’s stock worth $117,000 after buying an additional 20,810 shares in the last quarter. Barnett & Company Inc. increased its position in shares of Baidu by 10.3% in the first quarter. Barnett & Company Inc. now owns 800 shares of the information services provider’s stock worth $138,000 after buying an additional 75 shares in the last quarter. Finally, Highstreet Asset Management Inc. acquired a new position in shares of Baidu during the second quarter worth approximately $146,000. Institutional investors and hedge funds own 65.25% of the company’s stock.
Baidu Company Profile
Baidu, Inc is a Chinese language Internet search provider. The Company offers a Chinese language search platform on its Baidu.com Website that enables users to find information online, including Webpages, news, images, documents and multimedia files, through links provided on its Website. In addition to serving individual Internet search users, the Company provides a platform for businesses to reach customers.
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