Piper Jaffray Maintains Overweight on Baidu.com

Piper Jaffray is out with its report today on Baidu.com (NASDAQ: BIDU), maintaining Overweight.

In its report, Piper Jaffray writes, "The bottom line is that we remain buyers of BIDU based on our belief that Baidu is positioned to continue to post strong mid-double digit growth potentially through FY14. If you look back on Google's forward growth rate when it was at a similar revenue size as Baidu, we believe it suggests that Baidu revenue could be 3.5x bigger in three years than FY11."

Piper Jaffray maintains a $217 PT on BIDU.

At the time of posting, shares of BIDU were trading pre-market at $140.50, down 2.86% from Monday's close.