Baidu Inc. (NASDAQ:BIDU) was upgraded by equities researchers at Vetr from a “hold” rating to a “buy” rating in a research note issued on Thursday. The brokerage presently has a $197.45 target price on the stock. Vetr‘s target price would indicate a potential upside of 8.45% from the stock’s current price.
A number of other equities research analysts have also issued reports on BIDU. Credit Suisse Group AG reaffirmed an “outperform” rating and set a $190.00 target price on shares of Baidu in a research report on Wednesday, July 20th. Deutsche Bank AG lowered Baidu from a “buy” rating to a “hold” rating and cut their target price for the stock from $219.00 to $201.00 in a research report on Wednesday, September 28th. Brean Capital reaffirmed a “buy” rating on shares of Baidu in a research report on Wednesday, July 6th. JPMorgan Chase & Co. assumed coverage on Baidu in a research report on Wednesday, August 31st. They set an “underweight” rating and a $164.00 target price on the stock. Finally, Nomura cut their target price on Baidu from $187.00 to $160.00 and set a “neutral” rating on the stock in a research report on Thursday, July 7th. Four investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and fourteen have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $196.34.
Baidu (NASDAQ:BIDU) opened at 182.07 on Thursday. The firm has a market capitalization of $63.11 billion, a price-to-earnings ratio of 13.40 and a beta of 2.30. Baidu has a 1-year low of $139.61 and a 1-year high of $217.97. The stock has a 50 day moving average price of $180.95 and a 200 day moving average price of $175.35.
A number of institutional investors have recently bought and sold shares of the stock. Macquarie Group Ltd. boosted its position in Baidu by 2.4% in the second quarter. Macquarie Group Ltd. now owns 1,077,364 shares of the company’s stock valued at $177,936,000 after buying an additional 24,895 shares during the period. KAMES CAPITAL plc boosted its position in Baidu by 38.1% in the second quarter. KAMES CAPITAL plc now owns 70,700 shares of the company’s stock valued at $11,675,000 after buying an additional 19,500 shares during the period. Wolverine Asset Management LLC purchased a new position in Baidu during the second quarter valued at approximately $486,000. CI Investments Inc. purchased a new position in Baidu during the second quarter valued at approximately $6,821,000. Finally, IFP Advisors Inc boosted its position in Baidu by 0.7% in the second quarter. IFP Advisors Inc now owns 2,013 shares of the company’s stock valued at $332,000 after buying an additional 14 shares during the period. 63.21% of the stock is owned by hedge funds and other institutional investors.
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.
To view Vetr’s full report, visit Vetr’s official website.
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