Baidu Sinking (BIDU)

Shares of Baidu (NASDAQ: BIDU) are trading lower this morning after a Deutsch Bank analyst cut his rating on the Chinese internet search giant.

Analyst Alan Hellawell cut his rating to Hold from Buy, but raised his price target to $86 from $80.

Hellawell said, "With Baidu's monetization metrics having taken a step up to a higher level, we expect the incremental benefit from Phoenix Nest to wane." Phoenix Next is the company's ad sales network.

Baidu shares are lower by $2.44, or 2.97%, to $79.73 in mid-morning trading Monday.