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Brean Capital Trims Numbers on Baidu (BIDU) Post Q4, Keeps 'Buy'

February 5, 2013 7:59 AM EST Send to a Friend
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Price: $226.50 +10.88%

Rating Summary:
    19 Buy, 2 Hold, 1 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 17 | Down: 38 | New: 6
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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.




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