BIDU Clear Beneficiary If China Blocks Google.com.hk

Analysts at Kaufman Brothers upgrade Baidu (NASDAQ: BIDU) from "hold" to "buy." The target price for BIDU has been raised from $540 to $690.

According to Kaufman Brothers, there is a high probability of the Chinese government restricting access to Google's uncensored search site. As Baidu has roughly 70% query share and more than 60% search revenue share, it would be the clear beneficiary in case the Chinese government decides to block access to Google.com.hk.

BIDU could gain about 53% of the revenues generated by Google in China if the Google site is blocked, Kaufman Brothers says.

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