Baidu, Inc. (BIDU) Upgraded at Macquarie
Baidu, Inc. (NASDAQ:BIDU) was upgraded by stock analysts at Macquarie to a “buy” rating in a report released on Friday. The firm currently has a $252.00 price objective on the information services provider’s stock. Macquarie’s price objective would indicate a potential upside of 25.37% from the stock’s current price.
BIDU has been the topic of several other research reports. Vetr downgraded shares of Baidu from a “strong-buy” rating to a “buy” rating and set a $199.19 target price on the stock. in a research note on Monday, May 8th. Deutsche Bank AG restated a “hold” rating and issued a $201.00 target price (up previously from $186.00) on shares of Baidu in a research note on Wednesday. Jefferies Group LLC restated a “buy” rating and issued a $208.00 target price on shares of Baidu in a research note on Saturday, July 22nd. Zacks Investment Research upgraded shares of Baidu from a “sell” rating to a “hold” rating in a research note on Thursday, March 30th. Finally, J P Morgan Chase & Co restated a “neutral” rating and issued a $190.00 target price on shares of Baidu in a research note on Friday, April 28th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $192.54.
Shares of Baidu (NASDAQ BIDU) traded up 11.19% during mid-day trading on Friday, reaching $223.49. 9,485,090 shares of the company traded hands. Baidu has a 52-week low of $156.23 and a 52-week high of $225.60. The stock’s 50 day moving average is $184.14 and its 200 day moving average is $180.13. The stock has a market capitalization of $77.52 billion, a PE ratio of 48.46 and a beta of 1.91.
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Several hedge funds have recently made changes to their positions in BIDU. BlackRock Inc. boosted its stake in shares of Baidu by 4,625.7% in the first quarter. BlackRock Inc. now owns 11,974,528 shares of the information services provider’s stock worth $2,065,846,000 after buying an additional 11,721,135 shares during the period. Cambiar Investors LLC bought a new stake in shares of Baidu during the second quarter worth approximately $274,670,000. Edinburgh Partners Ltd boosted its stake in shares of Baidu by 65,315.3% in the first quarter. Edinburgh Partners Ltd now owns 798,721 shares of the information services provider’s stock worth $137,787,000 after buying an additional 797,500 shares during the period. Artisan Partners Limited Partnership boosted its stake in shares of Baidu by 8.9% in the first quarter. Artisan Partners Limited Partnership now owns 7,639,967 shares of the information services provider’s stock worth $1,318,047,000 after buying an additional 621,382 shares during the period. Finally, Causeway Capital Management LLC boosted its stake in shares of Baidu by 20.4% in the first quarter. Causeway Capital Management LLC now owns 3,604,537 shares of the information services provider’s stock worth $621,855,000 after buying an additional 611,124 shares during the period. 64.68% of the stock is owned by institutional investors.
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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