Baidu Inc. (BIDU) Given New $219.00 Price Target at Deutsche Bank AG
Baidu Inc. (NASDAQ:BIDU) had its price target increased by Deutsche Bank AG from $182.00 to $219.00 in a research note issued to investors on Tuesday. The brokerage presently has a “buy” rating on the stock. Deutsche Bank AG’s price target suggests a potential upside of 18.54% from the stock’s current price.
A number of other analysts have also weighed in on the stock. Citigroup Inc. decreased their target price on shares of Baidu from $180.00 to $179.00 and set a “neutral” rating on the stock in a report on Monday, July 25th. Oppenheimer Holdings Inc. reaffirmed an “outperform” rating and set a $188.00 target price (down previously from $196.00) on shares of Baidu in a report on Tuesday, August 2nd. Piper Jaffray Cos. reaffirmed an “overweight” rating and set a $215.00 target price (down previously from $235.00) on shares of Baidu in a report on Tuesday, June 14th. Nomura decreased their target price on shares of Baidu from $187.00 to $160.00 and set a “neutral” rating on the stock in a report on Thursday, July 7th. Finally, T.H. Capital lowered shares of Baidu from a “buy” rating to a “hold” rating in a report on Friday, July 29th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and sixteen have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $196.19.
Baidu (NASDAQ:BIDU) traded up 1.30% during trading on Tuesday, hitting $187.14. 1,905,033 shares of the stock traded hands. The stock has a market cap of $64.86 billion, a PE ratio of 13.78 and a beta of 2.30. The company has a 50-day moving average price of $174.67 and a 200-day moving average price of $174.59. Baidu has a 12 month low of $130.77 and a 12 month high of $217.97.
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Hedge funds and other institutional investors have recently modified their holdings of the company. Nomura Asset Management Co. Ltd. raised its position in shares of Baidu by 61.0% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 21,031 shares of the company’s stock valued at $3,976,000 after buying an additional 7,972 shares during the period. Acadian Asset Management LLC raised its position in shares of Baidu by 64.7% in the first quarter. Acadian Asset Management LLC now owns 116,039 shares of the company’s stock valued at $22,149,000 after buying an additional 45,577 shares during the period. Raymond James Trust N.A. raised its position in shares of Baidu by 56.5% in the first quarter. Raymond James Trust N.A. now owns 2,119 shares of the company’s stock valued at $404,000 after buying an additional 765 shares during the period. OLD National Bancorp IN bought a new position in shares of Baidu during the first quarter valued at approximately $257,000. Finally, Bellecapital International Ltd. raised its position in shares of Baidu by 1.5% in the first quarter. Bellecapital International Ltd. now owns 15,622 shares of the company’s stock valued at $2,892,000 after buying an additional 225 shares during the period. Institutional investors and hedge funds own 63.26% of the company’s stock.
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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