Pacific Crest Downgrades Baidu (BIDU) to Sector Weight

Pacific Crest downgraded Baidu (NASDAQ: BIDU) from Overweight to Sector Weight. The change follows Q2 results. Analyst Cheng Cheng thinks its O2O transition may create a multi-year valley in earnings.

"O2O is creating headwinds for margins and revenue growth. O2O may be the better long-term course for Baidu, but we believe it could be entering several years of low earnings growth. We are downgrading Baidu to Sector Weight," said Cheng.

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 $197.68 yesterday.

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