Susquehanna Lifts Price Target on Baidu.com (BIDU) to "Street High" $1000
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Susquehanna raised their price target today on Baidu.com, Inc. (Nasdaq: BIDU) from $728 to a "street high" $1000 following strong Q1 results and guidance after the close.
Baidu.com reported Q1 EPS of $2.10, ex-items, versus the analyst estimate of $1.51. Revenue for the quarter was $189.6 million, which compares to the estimate of $180 million. The company sees Q2 sales of $268-$274 million, versus the consensus of $240.1 million.
The firm notes Baidu’s expected 2Q revenue of $274 mln is comparable to SINA’s full-year brand ad revenue $277 mln (estimated, ex real estate). They said, "This means a widening gap between the search marketing leader and the display ad leader, strong evidence of our thesis that search has become a mainstream media."
They also note Baidu is benefiting from eCommerce growth in China, and said monetization improvement could enable Baidu to run for at least two years.
(note: following a 10-for-1 split this price target would be $100 per share)
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Baidu.com reported Q1 EPS of $2.10, ex-items, versus the analyst estimate of $1.51. Revenue for the quarter was $189.6 million, which compares to the estimate of $180 million. The company sees Q2 sales of $268-$274 million, versus the consensus of $240.1 million.
The firm notes Baidu’s expected 2Q revenue of $274 mln is comparable to SINA’s full-year brand ad revenue $277 mln (estimated, ex real estate). They said, "This means a widening gap between the search marketing leader and the display ad leader, strong evidence of our thesis that search has become a mainstream media."
They also note Baidu is benefiting from eCommerce growth in China, and said monetization improvement could enable Baidu to run for at least two years.
(note: following a 10-for-1 split this price target would be $100 per share)
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http://www.streetinsider.com/premium_content.php
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