Brean Capital Trims Numbers on Baidu (BIDU) Post Q4, Keeps 'Buy'
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Price: $96.45 +2.73%
Rating Summary:
8 Buy, 7 Hold, 4 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Rating Summary:
8 Buy, 7 Hold, 4 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Trade BIDU Now!
Brean Capital cut its price target on Baidu (NASDAQ: BIDU) from $125 to $120 following Q4 results and outlook but is maintaining a Buy rating.
The firm comments, "With mobile traffic growth continuing to outpace PC traffic, China Internet is going through a transformational period. Along with the industry, BIDU is going through the growing pains. We expect the company to face increasing margin pressure in the near term as a result of mobile investment, higher costs to fend off competition as well as iQiyi dilution. We remain positive on BIDU's overall long-term growth potential, but trim our 2013 estimates. As such, we lowered our price target to $120."
The firm trimmed FY13 EPS estimates from $5.77 to $5.51.
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 $107.20 yesterday, with a 52 week range of $85.96-$154.15.
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The firm comments, "With mobile traffic growth continuing to outpace PC traffic, China Internet is going through a transformational period. Along with the industry, BIDU is going through the growing pains. We expect the company to face increasing margin pressure in the near term as a result of mobile investment, higher costs to fend off competition as well as iQiyi dilution. We remain positive on BIDU's overall long-term growth potential, but trim our 2013 estimates. As such, we lowered our price target to $120."
The firm trimmed FY13 EPS estimates from $5.77 to $5.51.
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 $107.20 yesterday, with a 52 week range of $85.96-$154.15.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
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