Economy

New "Outperform" Rating Was Given to Baidu (NDAQ:BIDU)

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Northern Trust Corp boosted its holdings in Baidu, Inc. The stock of Baidu Inc (ADR) (NASDAQ:BIDU) earned "Sell" rating by Bernstein on Friday, July 14. After $2.02 actual EPS reported by Baidu Inc (ADR) for the previous quarter, Wall Street now forecasts 11.88% EPS growth. Marathon Asset Management LLP's holdings in Baidu were worth $82,498,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Finally, Franklin Resources Inc. raised its position in shares of Baidu by 7.4% in the 2nd quarter. Boston Private Wealth LLC raised its stake in shares of Baidu by 0.4% during the first quarter. Franklin Resources Inc. now owns 7,219,564 shares of the information services provider's stock worth $1,291,291,000 after purchasing an additional 498,060 shares during the period. Parallel Advisors LLC acquired a new stake in shares of Baidu during the fourth quarter valued at about $167,000. Ameritas Investment Partners Inc. now owns 4,949 shares of the information services provider's stock worth $854,000 after buying an additional 28 shares in the last quarter. UBS Asset Management Americas Inc. lifted its position in Baidu by 3.5% during the first quarter. Barnett & Company Inc. now owns 800 shares of the information services provider's stock valued at $138,000 after buying an additional 75 shares in the last quarter. Institutional investors and hedge funds own 62.63% of the company's stock.

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Wells Fargo revealed to clients and investors in an analyst report that it initiated coverage on Baidu (NDAQ:BIDU) stock, with "Outperform" rating and a $290.00 price target. As per Wednesday, October 7, the company rating was downgraded by Daiwa Securities.

Baidu shares ended the session up 1.4% to close at 239.82. Finally, Vetr downgraded shares of Baidu from a strong-buy rating to a buy rating and set a $265.83 price objective on the stock.in a research report on Wednesday, September 13th. HSBC Holdings plc reaffirmed a buy rating and set a $245.00 target price (up from $223.00) on shares of Baidu in a research note on Tuesday, August 1st. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and nine have assigned a buy rating to the company's stock. Baidu has $305 highest and $180 lowest target. (NASDAQ BIDU) traded up 0.43% during midday trading on Thursday, reaching $240.85. About 426,832 shares traded. The company's 50-day moving average is $227.76 and its 200 day moving average is $193.39. Gateway Investment Advisers Llc who had been investing in Baidu Inc for a number of months, seems to be bullish on the $83.16B market cap company.

According to Zacks, "Baidu, Inc., formerly Baidu.com, Inc.is a Chinese-language Internet search provider and is based in Beijing, the People's Republic of China.The company offers a Chinese language search platform and conducts its operations principally through Baidu Online Network Technology Co., Ltd., a network of third-party Web sites and software applications".



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