Market Overview

Baidu Shares Outperforming Modestly as Pacific Crest Boosted Target to $163

Share:
Related BIDU
2 Internet ETFs Flexing Their Muscles
Stephen Mandel's Lone Pine Capital Loves Tech, Consumer Stocks
Alibaba Purchases Stake Worth $383M in Enlight Media - Analyst Blog (Zacks)
Related SOHU
Do Peers Predict An Earnings Miss At Baidu?
Brean Capital Reacts to Mixed 4Q Results for Sohu.com
Alibaba And Baidu Disappoint: Why Qihoo, YY And Dangdang Could Buck The Trend (Seeking Alpha)

Pacific Crest's Cheng Cheng raised his price target on shares of Baidu (NASDAQ: BIDU) from $157 to $163 while maintaining an Outperform rating.

Cheng was involved in recent meetings with management which caused him to have "increased confidence that Baidu will be a mobile share consolidator." Baidu remains one of the most favorably positioned companies in the Chinese internet space, according to the Pacific Crest analyst.

Cheng noted the recent investment made by Tencent in Sohu's (NASDAQ: SOHU) Sogou, and said this will not be a "major concern" for Baidu.

With Baidu shares up around 0.3 percent to $144.27 at last check, Cheng's new price target implies potential upside of about 13 percent.

Latest Ratings for BIDU

DateFirmActionFromTo
Feb 2015OppenheimerMaintainsOutperform
Feb 2015Stifel NicolausDowngradesBuyHold
Feb 2015JefferiesMaintainsBuy

View More Analyst Ratings for BIDU
View the Latest Analyst Ratings

Posted-In: Analyst Color Price Target Analyst Ratings

 

Related Articles (BIDU + SOHU)

Around the Web, We're Loving...

Get Benzinga's Newsletters

Benzinga PRO content