Zacks Investment Research upgraded shares of Baidu (NASDAQ:BIDU) from a strong sell rating to a hold rating in a research note issued to investors on Friday, February 16th.
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. Further, the company offers Japanese search services, including Web search, image search, video search, and blog search capabilities. It also offers online marketing services to its customers directly and through other distribution networks. “
Several other research firms have also weighed in on BIDU. Bank of America reaffirmed a buy rating and set a $301.00 target price on shares of Baidu in a report on Sunday, November 19th. UBS Group raised shares of Baidu from a hold rating to a buy rating in a research note on Monday, October 23rd. Jefferies Group boosted their price target on shares of Baidu from $232.00 to $305.00 and gave the company a buy rating in a research report on Friday, October 20th. Barclays boosted their price objective on shares of Baidu from $240.00 to $250.00 and gave the company an equal weight rating in a report on Friday, January 26th. Finally, BidaskClub upgraded shares of Baidu from a sell rating to a hold rating in a report on Thursday, January 11th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the stock. The stock currently has an average rating of Buy and an average price target of $250.01.
A number of large investors have recently modified their holdings of BIDU. Trustcore Financial Services LLC acquired a new position in shares of Baidu in the 4th quarter valued at about $109,000. Whittier Trust Co. raised its holdings in shares of Baidu by 88.5% during the 4th quarter. Whittier Trust Co. now owns 490 shares of the information services provider’s stock valued at $115,000 after buying an additional 230 shares during the period. Mitsubishi UFJ Securities Holdings Co. Ltd. raised its holdings in shares of Baidu by 96.0% during the 3rd quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 490 shares of the information services provider’s stock valued at $121,000 after buying an additional 240 shares during the period. We Are One Seven LLC purchased a new stake in shares of Baidu during the 4th quarter valued at about $135,000. Finally, Virtue Capital Management LLC purchased a new stake in shares of Baidu during the 4th quarter valued at about $155,000. 63.22% of the stock is currently owned by hedge funds and other institutional investors.
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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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