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Baidu (NASDAQ:BIDU) was upgraded by stock analysts at Deutsche Bank from a “hold” rating to a “buy” rating in a report issued on Friday, TheFlyOnTheWall.com reports. The firm currently has a $229.00 target price on the stock, up from their previous target price of $178.00. Deutsche Bank’s price target suggests a potential upside of 40.57% from the stock’s previous close.

Shares of Baidu (NASDAQ:BIDU) traded up 1.98% on Friday, hitting $162.91. 9,467,154 shares of the company’s stock traded hands. Baidu has a 52-week low of $84.45 and a 52-week high of $189.34. The stock has a 50-day moving average of $158.9 and a 200-day moving average of $163.4. The company has a market cap of $57.078 billion and a P/E ratio of 33.46. Baidu also was the target of unusually large options trading on Thursday. Investors purchased 46,901 call options on the stock. This represents an increase of approximately 126% compared to the average daily volume of 20,720 call options.

Baidu (NASDAQ:BIDU) last released its earnings data on Thursday, April 24th. The company reported $1.24 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.99 by $0.25. The company had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $9.54 billion. During the same quarter last year, the company posted $0.95 earnings per share. Baidu’s revenue was up 59.0% compared to the same quarter last year. Analysts expect that Baidu will post $32.25 EPS for the current fiscal year.

A number of other firms have also recently commented on BIDU. Analysts at Zacks downgraded shares of Baidu from an “outperform” rating to a “neutral” rating in a research note on Monday, March 3rd. They now have a $182.80 price target on the stock. Separately, analysts at Citigroup Inc. raised their price target on shares of Baidu from $175.00 to $215.00 in a research note on Monday, March 3rd. Finally, analysts at TheStreet reiterated a “buy” rating on shares of Baidu in a research note on Monday, March 3rd. One analyst has rated the stock with a sell rating, three have given a hold rating and fifteen have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $197.14.

Baidu, Inc (NASDAQ:BIDU) is a Chinese-language Internet search provider.

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