Market Overview

UPDATE: Goldman Sachs Upgrades Baidu to Buy


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

Jul 2019MaintainsOverweight
Jun 2019MaintainsNeutral
Jun 2019Initiates Coverage OnHold

View More Analyst Ratings for BIDU
View the Latest Analyst Ratings

Posted-In: Analyst Color News Upgrades Analyst Ratings


Related Articles (BIDU)

View Comments and Join the Discussion!

Latest Ratings

View the Latest Analytics Ratings
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Trading Daily
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Daily Analyst Rating
A summary of each day’s top rating changes from sell-side analysts on the street.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at

3 Reasons To Be Bullish On Collector's Universe

Mid-Day Market Update: Dow Surges Over 1%; Dillard's Shares Drop On Downbeat Results