Market Overview

Citigroup Sets Price Target On Baidu

Share:
Related BIDU
Baidu Among Companies Working Together To Use Bitcoin Technology To Create Global Bank
Deutsche Bank Reacts To Baidu's Guidance: 'The Math Doesn't Look All That Bad'
Lyft Taps Microsoft-LinkedIn Banker To Haggle Deal; Has Uber Won? (Investor's Business Daily)

In a note dated July 24, Citigroup analyst Thomas Chong assumed coverage on Baidu (NASDAQ: BIDU) by reiterating a Buy rating and setting a $245 price target.

Chong believes the company is in a good position to capture mobile internet opportunities through search, app distribution and location based services.

"With Mobile traffic heading toward 50 percent of total traffic in 2014 and the success of its integrated bidding system in both PC and mobile search, we believe Baidu is extending its search leadership to mobile internet," Chong commented.

Shares of Baidu are up over nine percent to ~$223.25 as the Street continues to digest Thursday's earnings release.

Latest Ratings for BIDU

DateFirmActionFromTo
Jun 2016CitigroupDowngradesBuyNeutral
May 2016JefferiesMaintainsBuy
May 2016Morgan StanleyMaintainsOverweight

View More Analyst Ratings for BIDU
View the Latest Analyst Ratings

Posted-In: Citigroup Thomas ChongAnalyst Color News Price Target Reiteration Analyst Ratings

 

Related Articles (BIDU)

View Comments and Join the Discussion!