Wells Fargo & Co Reiterates “Outperform” Rating for Baidu (BIDU)

Wells Fargo & Co restated their outperform rating on shares of Baidu (NASDAQ:BIDU) in a research report released on Monday morning, The Fly reports. The firm currently has a $200.00 price objective on the information services provider’s stock, down from their previous price objective of $275.00.

A number of other equities research analysts have also recently weighed in on BIDU. Vetr cut shares of Baidu from a strong-buy rating to a buy rating and set a $265.83 price objective on the stock. in a report on Wednesday, September 13th. Citigroup restated a hold rating and issued a $253.00 price objective on shares of Baidu in a report on Thursday, September 14th. Bank of America restated a buy rating and issued a $263.00 price objective on shares of Baidu in a report on Monday, September 18th. restated a buy rating and issued a $282.00 price objective (up previously from $245.00) on shares of Baidu in a report on Wednesday, September 27th. Finally, Zacks Investment Research upgraded shares of Baidu from a hold rating to a buy rating and set a $265.00 price objective on the stock in a report on Wednesday, September 27th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the stock. Baidu has a consensus rating of Buy and an average target price of $234.77.

Shares of Baidu (NASDAQ BIDU) traded down $5.78 on Monday, reaching $248.95. 2,184,200 shares of the company’s stock were exchanged, compared to its average volume of 2,285,257. The stock has a market capitalization of $86,590.00, a PE ratio of 35.51, a PEG ratio of 1.48 and a beta of 1.89. The company has a current ratio of 1.71, a quick ratio of 1.71 and a debt-to-equity ratio of 0.34. Baidu has a twelve month low of $166.00 and a twelve month high of $274.97.

Several hedge funds and other institutional investors have recently modified their holdings of the company. DnB Asset Management AS lifted its stake in shares of Baidu by 18.1% in the fourth quarter. DnB Asset Management AS now owns 360,522 shares of the information services provider’s stock worth $84,438,000 after buying an additional 55,267 shares in the last quarter. Prudential Financial Inc. lifted its position in Baidu by 37.0% during the third quarter. Prudential Financial Inc. now owns 215,617 shares of the information services provider’s stock valued at $53,406,000 after purchasing an additional 58,230 shares during the period. Atlantic Trust Group LLC bought a new position in Baidu during the third quarter valued at approximately $2,033,000. AustralianSuper Pty Ltd bought a new position in Baidu during the third quarter valued at approximately $13,276,000. Finally, Parametric Portfolio Associates LLC lifted its position in Baidu by 7.0% during the third quarter. Parametric Portfolio Associates LLC now owns 174,497 shares of the information services provider’s stock valued at $43,221,000 after purchasing an additional 11,391 shares during the period. Hedge funds and other institutional investors own 63.95% of the company’s stock.

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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.

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