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UPDATE: Maxim Group Initiates Baidu at Sell; China Search May Have Peaked

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Maxim Group initiated coverage on Baidu (NASDAQ: BIDU) with a Sell rating and a $80 price target.

Maxim Group commented, "With 80% revenue and 72% traffic shares in 3Q12, as well as stellar growth and margin expansion since its IPO in 2005, we believe the operations of China's dominant search engine may have peaked. With continued search penetration to the mass market, increasing mobile usage, rising competition, and an uncertain economy, BIDU may face difficulties achieving high growth while maintaining high margins."

Baidu closed at $98.55 on Tuesday.

Latest Ratings for BIDU

DateFirmActionFromTo
Jul 2014BNP ParibasUpgradesReduceBuy
Jul 2014HSBCMaintainsOverweight
Jul 2014UBSMaintainsNeutral

View More Analyst Ratings for BIDU
View the Latest Analyst Ratings

Posted-In: Maxim GroupAnalyst Color Initiation Intraday Update Analyst Ratings

 

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