Baidu, Inc. (BIDU) Price Target Raised to $305.00 at Jefferies Group LLC

Baidu, Inc. (NASDAQ:BIDU) had its price objective upped by Jefferies Group LLC from $232.00 to $305.00 in a research report sent to investors on Friday. The brokerage currently has a buy rating on the information services provider’s stock.

A number of other analysts also recently issued reports on BIDU. BidaskClub upgraded shares of Baidu from a sell rating to a hold rating in a report on Thursday, June 22nd. TheStreet downgraded shares of Baidu from a b- rating to a c+ rating in a report on Thursday, June 22nd. HSBC Holdings plc reiterated a buy rating and issued a $223.00 price target on shares of Baidu in a report on Monday, July 10th. Sanford C. Bernstein reiterated an underperform rating and issued a $152.00 price target (down from $188.00) on shares of Baidu in a report on Friday, July 14th. Finally, Deutsche Bank AG reiterated a hold rating and issued a $201.00 price target (up from $186.00) on shares of Baidu in a report on Wednesday, July 26th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, fourteen have issued a buy rating and three have assigned a strong buy rating to the company. Baidu currently has an average rating of Buy and a consensus target price of $229.45.

Baidu (NASDAQ BIDU) traded up 0.14% on Friday, reaching $264.90. The company had a trading volume of 2,115,484 shares. The stock has a market capitalization of $91.86 billion, a PE ratio of 48.29 and a beta of 1.99. Baidu has a 12-month low of $159.54 and a 12-month high of $274.97. The stock’s 50 day moving average price is $245.49 and its 200-day moving average price is $206.09.

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Hedge funds have recently added to or reduced their stakes in the stock. Principal Financial Group Inc. boosted its position in Baidu by 0.4% in the 1st quarter. Principal Financial Group Inc. now owns 1,346 shares of the information services provider’s stock valued at $232,000 after buying an additional 6 shares during the period. Cambridge Advisors Inc. boosted its position in Baidu by 0.6% in the 2nd quarter. Cambridge Advisors Inc. now owns 1,583 shares of the information services provider’s stock valued at $283,000 after buying an additional 10 shares during the period. Benjamin F. Edwards & Company Inc. boosted its position in Baidu by 1.9% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 1,478 shares of the information services provider’s stock valued at $264,000 after buying an additional 28 shares during the period. HL Financial Services LLC boosted its position in Baidu by 0.8% in the 2nd quarter. HL Financial Services LLC now owns 3,726 shares of the information services provider’s stock valued at $666,000 after buying an additional 31 shares during the period. Finally, Mosaic Family Wealth LLC boosted its position in Baidu by 2.7% in the 2nd quarter. Mosaic Family Wealth LLC now owns 1,237 shares of the information services provider’s stock valued at $221,000 after buying an additional 33 shares during the period. 64.09% of the stock is owned by hedge funds and other institutional investors.

About Baidu

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.

Analyst Recommendations for Baidu (NASDAQ:BIDU)

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