Jefferies Raises Estimates on Baidu (BIDU) Following Q4, Large Accounts Driving Growth

Jefferies reiterated its Buy rating and $200 price target on Baidu (NASDAQ: BIDU) following Q4 results. The firm raised estimates for FY12 from $3.08 to $3.15 and FY13 from $4.83 to $4.88.

The firm comments, "Baidu reported 4Q11 results: revenue in line, earnings beat our estimates by 7% on lower-than-expected Qiyi losses. The growth outlook is intact as traditional offline and brand advertisers increase spending on search marketing. Baidu remains focused on penetrating SMEs and will continue to invest in R&D, network infrastructure, mobile products and online video in FY12. Reiterate Buy with US$200 PT unchanged."

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 $141.83 yesterday.

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