Baidu, Inc. (BIDU) Upgraded at J P Morgan Chase & Co
J P Morgan Chase & Co upgraded shares of Baidu, Inc. (NASDAQ:BIDU) from an underweight rating to a neutral rating in a report released on Monday morning. They currently have $190.00 price objective on the stock, up from their previous price objective of $159.00.
Several other research firms have also issued reports on BIDU. Macquarie lowered shares of Baidu from an outperform rating to a neutral rating and reduced their target price for the stock from $199.00 to $179.00 in a research note on Friday, October 28th. Deutsche Bank AG lowered shares of Baidu from a buy rating to a hold rating and reduced their target price for the stock from $219.00 to $201.00 in a research note on Wednesday, September 28th. Vetr upgraded shares of Baidu from a buy rating to a strong-buy rating and set a $194.90 target price for the company in a research note on Wednesday, October 26th. Brean Capital reiterated a buy rating on shares of Baidu in a research note on Tuesday, October 4th. Finally, Jefferies Group reiterated a buy rating and issued a $188.00 target price on shares of Baidu in a research note on Monday, October 3rd. Three investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and ten have assigned a buy rating to the company. The stock has an average rating of Hold and a consensus price target of $190.35.
Shares of Baidu (NASDAQ:BIDU) traded down 0.13% during mid-day trading on Monday, reaching $177.34. 168,461 shares of the company’s stock traded hands. Baidu has a 12-month low of $139.61 and a 12-month high of $201.00. The firm has a 50-day moving average of $166.76 and a 200 day moving average of $171.12. The company has a market cap of $61.52 billion, a P/E ratio of 13.43 and a beta of 1.91.
COPYRIGHT VIOLATION NOTICE: “Baidu, Inc. (BIDU) Upgraded at J P Morgan Chase & Co” was first published by Daily Political and is the sole property of of Daily Political. If you are reading this story on another website, it was stolen and reposted in violation of United States and international copyright legislation. The correct version of this story can be read at http://www.dailypolitical.com/2017/01/13/baidu-inc-bidu-upgraded-at-j-p-morgan-chase-co.html.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Causeway Capital Management LLC bought a new position in Baidu during the second quarter valued at $453,930,000. UBS Asset Management Americas Inc. boosted its position in Baidu by 423.4% in the third quarter. UBS Asset Management Americas Inc. now owns 2,572,682 shares of the company’s stock valued at $468,407,000 after buying an additional 2,081,173 shares during the period. Franklin Resources Inc. boosted its position in Baidu by 126.6% in the second quarter. Franklin Resources Inc. now owns 3,706,263 shares of the company’s stock valued at $612,088,000 after buying an additional 2,070,818 shares during the period. Scopia Capital Management LP bought a new position in Baidu during the third quarter valued at $354,579,000. Finally, State Street Corp boosted its position in Baidu by 65.9% in the second quarter. State Street Corp now owns 4,368,064 shares of the company’s stock valued at $721,384,000 after buying an additional 1,735,388 shares during the period. Institutional investors own 62.31% of the company’s stock.
Baidu, Inc is a Chinese language Internet search provider. The Company offers a Chinese language search platform on its Baidu.com Website that enables users to find information online, including Webpages, news, images, documents and multimedia files, through links provided on its Website. In addition to serving individual Internet search users, the Company provides a platform for businesses to reach customers.
Receive News & Ratings for Baidu Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Baidu Inc. and related companies with MarketBeat.com's FREE daily email newsletter.