Susquehanna Said Buy Baidu.com (BIDU) On Recent Weakness
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Susquehanna comments in Baidu.com, Inc. (Nasdaq: BIDU) saying recent weakness in the stock offers a good entry point. The firm is reiterating their Positive rating and $444 price target.
The firm noted that Baidu's CFO, Jennifer Li, attended their Beijing Management Summit. Commenting on the meeting the firm said, "During the meetings with investors, Ms. Li expressed confidence in Baidu's growth momentum in not only the long term, but also near to medium term. The impact from the Olympic Games period was in-line with (rather than underperformed) management's previous expectations, and business bounced back strongly after the games."
Shares of Baidu closed at $264.10 yesterday.
Baidu.com, Inc., through its subsidiaries, provides Chinese language Internet search services primarily in the People's Republic of China.
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