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UPDATE: Credit Suisse Reiterates Underperform Rating, Lowers PT on Baidu.com

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In a report published Wednesday, Credit Suisse reiterated its Underperform rating on Baidu.com (NASDAQ: BIDU), but slightly lowered its price target from $83.00 to $82.00.

Credit Suisse noted, “Reiterate UNDERPERFORM rating, structural de-rating story remains. Due to lower 4Q guidance, we cut our 2013/14E EPS by 1%. We are raising our 2012 EPS estimates by 1%. Baidu's revenue growth slowdown is due to: (1) ad market slowdown; (2) rising competition; (3) difficulty in mobile monetisation. We cut our target price from US$83 to US$82. Reiterate UNDERPERFORM.”

Baidu.com closed on Tuesday at $113.84.

Posted-In: Credit SuisseAnalyst Color Price Target Analyst Ratings

 

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