Baidu, Inc. (NASDAQ:BIDU)‘s stock had its “buy” rating restated by investment analysts at Bank of America Corporation in a research report issued to clients and investors on Sunday. They presently have a $301.00 target price on the information services provider’s stock. Bank of America Corporation’s price objective would indicate a potential upside of 26.18% from the stock’s current price.

A number of other equities research analysts have also recently commented on BIDU. Zacks Investment Research raised shares of Baidu from a “hold” rating to a “buy” rating and set a $265.00 price objective on the stock in a research note on Wednesday, September 27th. reissued a “buy” rating and issued a $245.00 price objective (up from $223.00) on shares of Baidu in a research note on Tuesday, August 1st. Instinet raised shares of Baidu from a “neutral” rating to a “buy” rating and increased their price objective for the company from $180.00 to $241.00 in a research note on Monday, July 31st. TheStreet raised shares of Baidu from a “c+” rating to a “b” rating in a research note on Monday, July 31st. Finally, Oppenheimer Holdings, Inc. increased their price objective on shares of Baidu from $200.00 to $250.00 and gave the company an “outperform” rating in a research note on Monday, July 31st. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, fifteen have issued a buy rating and three have assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $236.36.

Shares of Baidu (NASDAQ BIDU) traded down $0.73 during midday trading on Friday, reaching $238.54. 2,078,557 shares of the company were exchanged, compared to its average volume of 2,577,937. The firm has a market cap of $82,970.00, a PE ratio of 30.29, a price-to-earnings-growth ratio of 1.42 and a beta of 1.94. Baidu has a 12-month low of $160.79 and a 12-month high of $274.97. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.71 and a current ratio of 1.71.

WARNING: This article was posted by American Banking News and is the sole property of of American Banking News. If you are accessing this article on another site, it was illegally copied and reposted in violation of US and international copyright legislation. The correct version of this article can be read at https://www.americanbankingnews.com/2017/11/20/baidu-inc-bidu-receives-buy-rating-from-bank-of-america-corporation.html.

A number of institutional investors and hedge funds have recently bought and sold shares of BIDU. ING Groep increased its position in Baidu by 88.6% during the 3rd quarter. ING Groep now owns 12,934 shares of the information services provider’s stock worth $1,777,000 after purchasing an additional 6,076 shares in the last quarter. Beacon Financial Group increased its position in Baidu by 2.3% during the 4th quarter. Beacon Financial Group now owns 5,398 shares of the information services provider’s stock worth $1,037,000 after purchasing an additional 119 shares in the last quarter. Janus Capital Management increased its position in Baidu by 86.4% during the 3rd quarter. Janus Capital Management now owns 23,920 shares of the information services provider’s stock worth $3,287,000 after purchasing an additional 11,088 shares in the last quarter. River & Mercantile Asset Management acquired a new stake in Baidu during the 4th quarter worth approximately $846,000. Finally, Reynolds Capital Management increased its position in Baidu by 91.1% during the 4th quarter. Reynolds Capital Management now owns 7,550 shares of the information services provider’s stock worth $1,427,000 after purchasing an additional 3,600 shares in the last quarter. 64.42% 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.

Analyst Recommendations for Baidu (NASDAQ:BIDU)

Receive News & Ratings for Baidu Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Baidu Inc. and related companies with MarketBeat.com's FREE daily email newsletter.