Baidu (BIDU) PT Raised to 'Street High' $325 at Mizuho; Value of Autonomous Driving Biz Doubled to $40B
- S&P 500, Dow climb for third day and close at records
- Tesla (TSLA) China Numbers 'Robust' - Wedbush
- Apple (AAPL) Shares Seen as 'Attractive' as Recent Checks Show Continuously Strong Demand - Citi
- Investors Poured More Money Into Stocks in Past 5 Months Than Last 12 Years, Says BofA, Analysts Worried About Stretched Valuations
- Amazon.com warehouse workers vote to reject forming union in Alabama
News and research before you hear about it on CNBC and others. Claim your 1-week free trial to StreetInsider Premium here.
Mizuho Securities analyst James Lee raised the price target on Baidu (NASDAQ: BIDU) to a "Street High" $325.00 (from $250.00) while maintaining a Buy rating after raising the value of the company's Autonomous Driving (AD) business to $40 billion.
The analyst commented, "We are increasing Baidu’s Autonomous Driving (AD) business valuation from $20bn to $40bn, the major driver of raising our SOTP-based PT from $250 to $325, as China's national buildout becomes clearer, and with an estimated 500bn RMB TAM. China has laid out plans to build its AD network starting with smart transportation infrastructure across top 30 markets, and we expect OEMs to start offering integrated AD features. We believe Baidu is well-positioned as the dominant OS for both the smart transportation network and in-car technology. We forecast Baidu's core margins to be diluted by 5 points per year over next two years due to AD investments; however, we anticipate their core advertising margin remains unchanged."
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- FinecoBank (FBK:IM) PT Raised to EUR15.60 at Goldman Sachs
- Ashmore Group (ASHM:LN) (AJMPF) PT Lowered to GBP4.60 at Goldman Sachs
- Standard Life Aberdeen Plc. (SLA:LN) (SLFPY) PT Raised to GBP3.76 at Goldman Sachs
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst PT Change, Hot Comments
Sign 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!