Susquehanna Raises Baidu.com (BIDU) to $375
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Susquehanna boosted its price target on Baidu.com (Nasdaq: BIDU) from $315 to $375, maintaining its Positive rating ahead of Q1 results due on 4/24.
The firm said they expect to see modest upside to company guidance and consensus estimates. They also said their checks suggest customer acquisition in March was strong, which will bode well for Q2.
The firm said, "Near term, the upside is mainly driven by monetization enhancement, though we prefer to see traffic growth as a stronger factor. We note longer term e-Commerce and Internet infrastructure are becoming more favorable for Baidu's search business." [LJ]
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