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Research analysts at Citigroup Inc. began coverage on shares of Baidu Inc (NASDAQ:BIDU) in a report released on Friday. The firm set a “buy” rating and a $245.00 price target on the stock. Citigroup Inc.’s price target points to a potential upside of 8.17% from the stock’s previous close.

Baidu Inc (NASDAQ:BIDU) traded up 10.88% during mid-day trading on Friday, hitting $226.50. The stock had a trading volume of 12,597,401 shares. Baidu Inc has a one year low of $126.33 and a one year high of $226.76. The stock’s 50-day moving average is $185.7 and its 200-day moving average is $168.7. The company has a market cap of $79.367 billion and a price-to-earnings ratio of 40.43. Baidu Inc also was the target of unusually large options trading activity on Friday. Investors purchased 83,663 call options on the company. This represents an increase of approximately 436% compared to the typical volume of 15,598 call options.

Baidu Inc (NASDAQ:BIDU) last released its earnings data on Thursday, July 24th. The company reported $1.73 earnings per share for the quarter, missing the analysts’ consensus estimate of $8.15 by $6.42. The company had revenue of $1.93 billion for the quarter, compared to the consensus estimate of $11.95 billion. During the same quarter last year, the company posted $1.22 earnings per share. Baidu Inc’s revenue was up 58.5% compared to the same quarter last year. Analysts expect that Baidu Inc will post $33.47 EPS for the current fiscal year.

Several other analysts have also recently commented on the stock. Analysts at Deutsche Bank raised their price target on shares of Baidu Inc to $245.00 in a research note on Friday. Separately, analysts at Goldman Sachs raised their price target on shares of Baidu Inc to $260.00 in a research note on Friday. Finally, analysts at Piper Jaffray raised their price target on shares of Baidu Inc from $206.00 to $222.00 in a research note on Friday. They now have an “overweight” rating on the stock. One research analyst has rated the stock with a sell rating, one has issued a hold rating and seventeen have given a buy rating to the stock. Baidu Inc presently has an average rating of “Buy” and an average target price of $213.49.

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

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