Baidu.com (BIDU): Newsfeed Update, No PT Change Yet - Jefferies

Jefferies analyst, Karen Chan, reiterated her Buy rating on shares of Baidu (NASDAQ: BIDU) after the company announced more details on its newsfeed ad products. Currently they are available on Mobile Baidu, Baidu Tieba and Mobile Baidu Browser charged on a CPM/CPT/CPC basis. With online news browsing being the third most popular mobile activity behind instant messaging and search in China, monetization of personalized newsfeed may help Baidu tap into mobile app ad budget beyond search.

Online news browsing is the third most popular mobile activity in China with 78.9% user penetration rate as of June 2016, according to CNNIC. Monetization of its personalized newsfeed may help Baidu tap into mobile app ad budget beyond search.

No change to the price target of $188.

For an analyst ratings summary and ratings history on Baidu click here. For more ratings news on Baidu click here.

Shares of Baidu closed at $167.75 yesterday.

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