Vetr Inc. Lowers Baidu Inc (BIDU) to Buy
Baidu Inc (NASDAQ:BIDU) was downgraded by analysts at Vetr from a “strong-buy” rating to a “buy” rating in a note issued to investors on Monday. They currently have a $196.30 price target on the stock. Vetr‘s price target would suggest a potential upside of 11.45% from the company’s current price.
A number of other research analysts have also commented on the stock. Evercore ISI reaffirmed a “hold” rating and set a $200.00 price objective on shares of Baidu in a research report on Wednesday, February 1st. Cantor Fitzgerald initiated coverage on shares of Baidu in a research report on Monday, December 19th. They set an “underweight” rating and a $126.00 price objective for the company. CICC Research lowered shares of Baidu from a “buy” rating to a “hold” rating and set a $185.00 price objective for the company. in a research report on Tuesday, February 21st. Bank of America Corp reaffirmed a “buy” rating on shares of Baidu in a research report on Tuesday, February 28th. Finally, Zacks Investment Research raised shares of Baidu from a “sell” rating to a “hold” rating in a research report on Tuesday, January 3rd. Three equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and nine have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $188.25.
Shares of Baidu (NASDAQ:BIDU) traded down 0.28% during midday trading on Monday, reaching $176.13. The company had a trading volume of 1,829,136 shares. The firm’s 50 day moving average price is $177.44 and its 200-day moving average price is $175.21. Baidu has a 12 month low of $155.28 and a 12 month high of $201.00. The company has a market capitalization of $61.16 billion, a P/E ratio of 38.21 and a beta of 1.90.
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Hedge funds have recently added to or reduced their stakes in the stock. Dodge & Cox bought a new stake in Baidu during the fourth quarter valued at approximately $933,189,000. PagnatoKarp Partners LLC bought a new stake in Baidu during the fourth quarter valued at approximately $524,000. Portland Hill Capital LLP bought a new stake in Baidu during the fourth quarter valued at approximately $3,275,000. Wall Street Access Asset Management LLC boosted its stake in Baidu by 10.6% in the fourth quarter. Wall Street Access Asset Management LLC now owns 6,429 shares of the company’s stock valued at $1,056,000 after buying an additional 618 shares during the period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main bought a new stake in Baidu during the fourth quarter valued at approximately $62,421,000. 62.63% of the stock is currently owned by institutional investors and hedge funds.
Baidu Company Profile
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.
To view Vetr’s full report, visit Vetr’s official website.
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