Baidu (BIDU) Given a $246.00 Price Target by Credit Suisse Group Analysts

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Baidu (NASDAQ:BIDU) received a $246.00 price objective from Credit Suisse Group in a report released on Wednesday. The firm presently has a “buy” rating on the information services provider’s stock. Credit Suisse Group’s price target would suggest a potential upside of 29.43% from the stock’s current price.

A number of other equities analysts have also weighed in on the stock. Susquehanna Bancshares initiated coverage on shares of Baidu in a research report on Friday, September 7th. They issued a “positive” rating and a $325.00 price target for the company. BidaskClub lowered shares of Baidu from a “sell” rating to a “strong sell” rating in a research report on Friday, August 31st. ValuEngine lowered shares of Baidu from a “hold” rating to a “sell” rating in a research report on Thursday, September 6th. Citigroup dropped their price target on shares of Baidu from $295.00 to $265.00 and set an “outperform” rating for the company in a research report on Friday, October 12th. They noted that the move was a valuation call. Finally, Deutsche Bank set a $337.00 price target on shares of Baidu and gave the stock a “buy” rating in a research report on Wednesday, August 1st. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and fourteen have given a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $289.08.

BIDU opened at $190.06 on Wednesday. The company has a market capitalization of $63.59 billion, a price-to-earnings ratio of 23.58, a PEG ratio of 1.02 and a beta of 1.49. Baidu has a 1-year low of $177.80 and a 1-year high of $284.22. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.19 and a quick ratio of 2.19.

Hedge funds have recently added to or reduced their stakes in the company. Federated Investors Inc. PA purchased a new position in shares of Baidu in the second quarter worth $108,000. Flagship Harbor Advisors LLC purchased a new position in shares of Baidu in the second quarter worth $119,000. Bartlett & Co. LLC lifted its holdings in shares of Baidu by 71.0% in the second quarter. Bartlett & Co. LLC now owns 530 shares of the information services provider’s stock worth $129,000 after buying an additional 220 shares in the last quarter. Centaurus Financial Inc. purchased a new position in shares of Baidu in the second quarter worth $150,000. Finally, CENTRAL TRUST Co lifted its holdings in shares of Baidu by 116.0% in the third quarter. CENTRAL TRUST Co now owns 741 shares of the information services provider’s stock worth $170,000 after buying an additional 398 shares in the last quarter. 60.84% of the stock is currently owned by hedge funds and other institutional investors.

Baidu Company Profile

Baidu, Inc provides Internet search services in China and internationally. It operates through two segments, Baidu Core and iQIYI. The Baidu Core segment offers products for uses, including Baidu App to access search, feed, and other services using mobile devices; Baidu Search to access its search and other services through mobile browsers; Baidu Feed that provides users with personalized timeline to meet their personal interests reflected in their past online behaviors, such as search and browsing, and their demographics; and Bear Paw Account that enables verified brands and businesses to aggregate their content from Websites, wapsites, and open-platform apps.

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