New Buy Rating for Baidu Inc (BIDU), the Technology Giant

By Jason Carr

KeyBanc analyst Hans Chung maintained a Buy rating on Baidu Inc (BIDUResearch Report) today and set a price target of $149.00. The company’s shares closed last Monday at $103.74, close to its 52-week low of $93.39.

According to TipRanks.com, Chung is ranked #5175 out of 5558 analysts.

Baidu Inc has an analyst consensus of Moderate Buy, with a price target consensus of $141.01, representing a 31.2% upside. In a report issued on October 18, Jefferies also maintained a Buy rating on the stock with a $133.10 price target.

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Based on Baidu Inc’s latest earnings release for the quarter ending June 30, the company reported a quarterly net profit of $353 million. In comparison, last year the company had a net profit of $1.82 billion.

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Baidu, Inc. is a Chinese language internet search company, which engages in the provision of internet search solutions and online marketing solutions. The company’s products and services include Baidu App, Baidu Search, Baidu Feed, Haokan, Quanmin, Baidu Post Bar, Baidu Knows, Baidu Encyclopedia, Baidu Input Method Editor, or Baidu IME and Overseas Products.