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Citigroup Reiterates Sell Rating, $95.10 PT on Baidu.com

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In a report published Wednesday, Citigroup reiterated its Sell rating and $95.10 price target on Baidu.com (NASDAQ: BIDU).

Citigroup noted, “Witnessing Qihoo's monetization in search and its alliance with Google Adwords, we reiterate our Sell rating of Baidu at TP of $95.1 due to its weakening fundamentals in 2013 and increasing competitive landscape in PC search in China. We recommend long-only investors to sell Baidu on the recent stock price rebound and wait at least for 2-3 quarters to see if Baidu can solidify its stronghold in PC search and offset weakness in the mobile field by leveraging its monopolistic position in search.”

Baidu.com closed on Monday at $100.29.

Latest Ratings for BIDU

DateFirmActionFromTo
Jul 2016CitigroupMaintainsNeutral
Jul 2016Credit SuisseAssumesOutperform
Jun 2016CitigroupDowngradesBuyNeutral

View More Analyst Ratings for BIDU
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Posted-In: CitigroupAnalyst Color Reiteration Analyst Ratings

 

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