Goldman Sachs Lifts PT/Est on Baidu (BIDU), Remains Cautious
Get Alerts BIDU Hot Sheet
Price: $99.19 +0.98%
Rating Summary:
33 Buy, 7 Hold, 2 Sell
Rating Trend: Down
Today's Overall Ratings:
Up: 13 | Down: 11 | New: 14
Rating Summary:
33 Buy, 7 Hold, 2 Sell
Rating Trend: Down
Today's Overall Ratings:
Up: 13 | Down: 11 | New: 14
Join SI Premium – FREE
Goldman Sachs reiterated a Neutral rating and raised its price target to $94 on Baidu (NASDAQ: BIDU) following Q2 results, which they called "in-line with expectations with encouraging mobile performance."
Analyst Piyush Mubayi comments, "We attribute the robust 3Q guidance to mobile and video monetization growth, with potential upside from gaming should 91 Wireless acquisition take place. The legacy desktop revenues have been driven by SME customer acquisition and click-through enhancement, a healthy trend that we believe will sustain in the long term. However, we remain cautious on the margin outlook given the significant TAC and the upcoming S&M on mobile-related promotion. Hence we fine tune 2013-14E EPS by 3%/2% considering the revenue strength and the effective control of R&D and video spending plus higher interest income."
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 $113.37 yesterday.
Analyst Piyush Mubayi comments, "We attribute the robust 3Q guidance to mobile and video monetization growth, with potential upside from gaming should 91 Wireless acquisition take place. The legacy desktop revenues have been driven by SME customer acquisition and click-through enhancement, a healthy trend that we believe will sustain in the long term. However, we remain cautious on the margin outlook given the significant TAC and the upcoming S&M on mobile-related promotion. Hence we fine tune 2013-14E EPS by 3%/2% considering the revenue strength and the effective control of R&D and video spending plus higher interest income."
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 $113.37 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Citi Upgrades United Microelectronics Corp (2303:TT) (UMC) to Buy 'with limited downside'
- Kotak Downgrades 360 ONE WAM Ltd (360ONE:IN) to Add (2)
- Summit Insights Downgrades Silicon Labs (SLAB) to Hold, 'expect its stock to be an inline performer'
Create E-mail Alert Related Categories
Analyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT ChangeRelated Entities
Goldman SachsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!