Jefferies Starts Baidu (BIDU) at Buy, Sees 38% Upside

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Jefferies initiates coverage on Baidu (NASDAQ: BIDU) with a Buy rating and $200 price target, suggesting 38% upside.

The firm states, "As the number one search marketing player, Baidu enjoys a very high entry barrier, limited competition, a growing market with still low SME online marketing penetration, and an early opportunity in mobile search. Un-monetized traffic still accounts for over 55%, and online video JV Qiyi offers huge potential."

For more ratings news on Baidu click here and for the rating history of Baidu click here.

Shares of Baidu closed at $140.71 yesterday, with a 52 week range of $65.90-$718.00.

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