In a report published Tuesday, Pacific Crest Securities analysts maintained an Overweight rating on Baidu Inc BIDU, with a price target of $260.
The company is likely to announce its Q2 revenue guidance at least in-line with investor expectations of 38.6 percent y/y growth. The analysts believe this will provide "more confidence around full-year revenue growth."
In the report Pacific Crest Securities noted, "We expect spending commentary to remain unchanged. Baidu gave full-year 2015 spending guidance on its Q4 earnings call. We expect guidance to remain unchanged despite what we expect to be heightened spending seasonality in Q1. We continue to see heavy investment in business and products, such as like Baidu Connect, Nuomi, car services, food delivery and others, that should get Baidu closer to the transaction in 2015 and beyond."
"Based on our view of a solid Q2 revenue guide and strong revenue growth momentum for 2015, we remain positive on Baidu heading into the Q1 earnings report and for 2015," the analysts said.
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