Deutsche Bank Downgrades Baidu (BIDU) to Hold
- Apple (AAPL) Tops Q4 EPS by 2c; Issues Solid Outlook
- Wall Street slips on earnings; Apple falls late after results
- Chipotle Mexican Grill (CMG) Posts Q3 EPS of $0.27; Comps Miss Views; Additional Stock Buyback Approved
- Pandora (P) Misses Q3 EPS by 1c, Q4 Revenue Guidance Falls Short
- After-Hours Movers 10/25: (OGXI) (AKAM) (VRTX) Higher; (EW) (NUVA) (CMG) (AAPL) Lower (more...)
News and research before you hear about it on CNBC and others. Claim your 2-week free trial to StreetInsider Premium here.
Deutsche Bank downgraded Baidu (NASDAQ: BIDU) from Buy to Hold with a price target of $201.00 (from $219.00). Analyst Alan Hellawell said the downgrade is tied to conflicting feedback on budgeting plans and lack of insight into platform clean-up progress.
"Baidu's platform clean-up should continue well through 4Q and into 2017. While large accounts are paying up 15-20% YoY on a CPC basis; smaller, performance-sensitive customers seem to be balking at declining search ROI, for alternative ad platforms such as Weibo. Recent share price strength against a weakening outlook suggests that potential O2O corporate action is largely priced in, and leads us to downgrade. We also launch an interactive model, allowing investors to change assumptions around core search, potential exit values for the O2O business, and shareholdings in Meituan and Ctrip," said Hellawell.
Shares of Baidu closed at $190.83 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Deutsche Bank Downgrades VF Corp. (VFC) to Hold
- UBS Raises Price Target on Greenhill & Co. (GHL) to $17; Reiterates Sell
- Cynosure (CYNO) PT, Estimates Trimmed at Stifel Despite Solid Results
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS View, Analyst PT Change, Downgrades, Hot Comments, Hot Downgrades
Related EntitiesDeutsche Bank
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!