Deutsche Bank Says Baidu's (BIDU) Results Ease Investor Concerns for Second Half '12

July 24, 2012 12:30 PM EDT
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Price: $176.96 --0%

Rating Summary:
    17 Buy, 12 Hold, 4 Sell

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    Up: 10 | Down: 16 | New: 54
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Deutsche Bank maintains a 'Buy' on Baidu (NASDAQ: BIDU) price target of $186.00 (from $190.00).

Analyst, Alan Hellawell, said, "We expect inline 2Q results and 3Q guidance to ease market concerns over 2H macro impact. We attribute Baidu’s resilience to its diversified business structure (e.g. performance-based and brand ad offerings; both large account and SME customers)...We view current valuations (17x 2013 PE) as attractive given Baidu's growth momentum, market position and corporate governance."

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 $107.10 yesterday.

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