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UPDATE: Goldman Sachs Upgrades Baidu to Buy

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On Monday, Goldman Sachs upgraded Baidu, Inc. (NASDAQ: BIDU) from Neutral to Buy. Piyush Mubayi, analyst at Goldman, highlighted Baidu's “leading position in map services and location-based technology” as a source of opportunity.

Mubayi cited CNIT-Research, which recently uncovered Baidu Map has a 54 percent share of the mobile user traffic in October 2013, 2.5 times the share of its closest competitor AutoNavi. The possibilities expand “beyond the traditional navigational features, becoming a comprehensive information platform that covers users' daily needs for dining, shopping, and transportation services,” said Mubayi.

After opening at $175.53, up 1.6 percent from Friday's close, shares have given back about three dollars in gains. The stock last traded at $172.64, down about two pennies for the session.

Latest Ratings for BIDU

DateFirmActionFromTo
Jul 2019MaintainsOverweight
Jun 2019MaintainsNeutral
Jun 2019Initiates Coverage OnHold

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Posted-In: Analyst Color News Upgrades Analyst Ratings

 

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