Baidu (BIDU) Upgraded to Overweight at Morgan Stanley

Baidu (NASDAQ:BIDU) was upgraded by stock analysts at Morgan Stanley from an “equal weight” rating to an “overweight” rating in a research report issued to clients and investors on Wednesday, The Fly reports.

Several other analysts have also recently issued reports on BIDU. Daiwa Capital Markets upgraded Baidu from a “hold” rating to an “outperform” rating in a research note on Wednesday. Wells Fargo & Co reiterated an “outperform” rating and issued a $300.00 price objective (up from $290.00) on shares of Baidu in a research note on Wednesday. BidaskClub cut Baidu from a “sell” rating to a “strong sell” rating in a research note on Friday, February 9th. Barclays set a $250.00 price objective on Baidu and gave the company a “hold” rating in a research note on Thursday, October 19th. Finally, Oppenheimer increased their price objective on Baidu from $250.00 to $295.00 and gave the company an “outperform” rating in a research note on Tuesday, October 31st. Three analysts have rated the stock with a sell rating, nine have given a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $245.01.

Shares of Baidu (NASDAQ:BIDU) traded up $10.29 during midday trading on Wednesday, hitting $235.89. The stock had a trading volume of 7,950,247 shares, compared to its average volume of 2,960,000. The firm has a market capitalization of $81,910.00, a PE ratio of 32.76, a P/E/G ratio of 1.54 and a beta of 1.86. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.71 and a current ratio of 1.71. Baidu has a twelve month low of $166.00 and a twelve month high of $274.97.

Several hedge funds have recently modified their holdings of BIDU. Schwab Charles Investment Management Inc. grew its holdings in shares of Baidu by 53.7% during the second quarter. Schwab Charles Investment Management Inc. now owns 17,872 shares of the information services provider’s stock worth $3,197,000 after purchasing an additional 6,246 shares during the last quarter. Ark Investment Management LLC grew its holdings in shares of Baidu by 30.9% during the second quarter. Ark Investment Management LLC now owns 102,901 shares of the information services provider’s stock worth $18,405,000 after purchasing an additional 24,302 shares during the last quarter. Cubist Systematic Strategies LLC grew its holdings in shares of Baidu by 28.5% during the second quarter. Cubist Systematic Strategies LLC now owns 3,896 shares of the information services provider’s stock worth $697,000 after purchasing an additional 864 shares during the last quarter. Verition Fund Management LLC purchased a new position in shares of Baidu during the second quarter worth about $605,000. Finally, Advisory Services Network LLC grew its holdings in shares of Baidu by 13.0% during the second quarter. Advisory Services Network LLC now owns 2,126 shares of the information services provider’s stock worth $380,000 after purchasing an additional 244 shares during the last quarter. 63.73% of the stock is currently owned by institutional investors.

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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.

The Fly

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