Baidu (BIDU) Rating Increased to Overweight at Morgan Stanley
Baidu (NASDAQ:BIDU) was upgraded by investment analysts at Morgan Stanley from an “equal weight” rating to an “overweight” rating in a research report issued on Wednesday, The Fly reports.
A number of other analysts have also recently commented on the stock. Jefferies Group upped their target price on shares of Baidu from $232.00 to $305.00 and gave the company a “buy” rating in a report on Friday, October 20th. Bank of America reaffirmed a “buy” rating and set a $301.00 target price on shares of Baidu in a report on Sunday, November 19th. Wells Fargo & Co reaffirmed an “outperform” rating and set a $200.00 target price (down from $275.00) on shares of Baidu in a report on Monday, January 8th. OTR Global raised shares of Baidu to a “positive” rating in a report on Wednesday, October 25th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Baidu from $230.00 to $225.00 and set a “neutral” rating for the company in a report on Monday, October 30th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $245.01.
Shares of Baidu (BIDU) traded up $10.29 during mid-day trading on Wednesday, reaching $235.89. 7,949,242 shares of the company’s stock were exchanged, compared to its average volume of 2,960,000. Baidu has a twelve month low of $166.00 and a twelve month high of $274.97. The stock has a market capitalization of $81,910.00, a PE ratio of 32.76, a P/E/G ratio of 1.54 and a beta of 1.86. The company has a current ratio of 1.71, a quick ratio of 1.71 and a debt-to-equity ratio of 0.34.
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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