Baidu, Inc. (BIDU) Earns “Buy” Rating from Bank of America Corporation

Bank of America Corporation reissued their buy rating on shares of Baidu, Inc. (NASDAQ:BIDU) in a research report released on Sunday. Bank of America Corporation currently has a $301.00 price target on the information services provider’s stock.

Several other research firms have also commented on BIDU. Barclays PLC set a $250.00 price objective on Baidu and gave the company a hold rating in a research report on Thursday, October 19th. UBS AG raised Baidu from a hold rating to a buy rating in a research report on Monday, October 23rd. Jefferies Group LLC lifted their target price on Baidu from $232.00 to $305.00 and gave the stock a buy rating in a research report on Friday, October 20th. OTR Global raised Baidu to a positive rating in a research report on Wednesday, October 25th. Finally, Vetr raised Baidu from a buy rating to a strong-buy rating and set a $277.19 target price on the stock in a research report on Monday, October 30th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, fifteen have assigned a buy rating and three have issued a strong buy rating to the company. Baidu presently has a consensus rating of Buy and an average price target of $236.36.

Baidu (BIDU) opened at $244.30 on Friday. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.71 and a quick ratio of 1.71. Baidu has a 52-week low of $160.79 and a 52-week high of $274.97. The company has a market capitalization of $84,710.00, a PE ratio of 30.29, a price-to-earnings-growth ratio of 1.42 and a beta of 1.94.

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Large investors have recently made changes to their positions in the stock. Grove Bank & Trust raised its holdings in Baidu by 74.2% during the second quarter. Grove Bank & Trust now owns 594 shares of the information services provider’s stock worth $106,000 after purchasing an additional 253 shares in the last quarter. Shine Investment Advisory Services Inc. bought a new stake in Baidu during the second quarter worth approximately $112,000. Harbour Capital Advisors LLC raised its holdings in Baidu by 17,786.3% during the second quarter. Harbour Capital Advisors LLC now owns 20,927 shares of the information services provider’s stock worth $117,000 after purchasing an additional 20,810 shares in the last quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. raised its holdings in Baidu by 96.0% during the third quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 490 shares of the information services provider’s stock worth $121,000 after purchasing an additional 240 shares in the last quarter. Finally, Aviance Capital Management LLC bought a new stake in Baidu during the second quarter worth approximately $124,000. 64.42% of the stock is currently 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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