Baidu, Inc. (BIDU) Raised to Strong-Buy at Vetr Inc.
Vetr upgraded shares of Baidu, Inc. (NASDAQ:BIDU) from a buy rating to a strong-buy rating in a report published on Monday. They currently have $277.19 target price on the information services provider’s stock.
A number of other brokerages also recently issued reports on BIDU. Barclays PLC set a $250.00 price target on shares of Baidu and gave the company a hold rating in a report on Thursday, October 19th. Credit Suisse Group reiterated an outperform rating on shares of Baidu in a report on Thursday, August 31st. Citigroup Inc. reiterated a hold rating and issued a $253.00 price target on shares of Baidu in a report on Thursday, September 14th. Macquarie reiterated a top pick rating on shares of Baidu in a report on Monday, August 28th. Finally, TheStreet upgraded shares of Baidu from a c+ rating to a b rating in a report on Monday, July 31st. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, fifteen have given a buy rating and three have issued a strong buy rating to the company. Baidu has a consensus rating of Buy and a consensus target price of $234.70.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Cavalier Investments LLC acquired a new stake in shares of Baidu in the third quarter worth approximately $570,000. Harel Insurance Investments & Financial Services Ltd. boosted its position in shares of Baidu by 62.5% in the third quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,950 shares of the information services provider’s stock worth $483,000 after acquiring an additional 750 shares during the last quarter. USA Financial Portformulas Corp acquired a new stake in shares of Baidu in the third quarter worth approximately $3,493,000. Ariose Capital Management Ltd acquired a new stake in shares of Baidu in the third quarter worth approximately $15,580,000. Finally, Checchi Capital Advisers LLC acquired a new stake in shares of Baidu in the third quarter worth approximately $335,000. 64.27% of the stock is currently owned by institutional investors and hedge funds.
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.
To view Vetr’s full report, visit Vetr’s official website.
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