BIDU To Benefit From Chinese Government’s Likely Restriction On GOOG

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, the upgrade in the rating follows Google’s announcement that it will stop censoring its search services on Google.cn in China. The analysts believe that BIDU will benefit if the Chinese government decides to restrict access to GOOG’s site.

BIDU’s shares closed at $579.72 yesterday. More Analyst Ratings here