Baidu.com (BIDU) Up on Rumor and Price Target Hike

There is as rumor posted at Pacific Epoch, that Baidu.com (Nasdaq: BIDU) has partnered with Intel (Nasdaq: INTC) for a Chinese lab.

Shares of Baidu are slightly higher this AM (1%) on the rumor and a positive research note from RBC Capital, which raised its price target on the stock from $345 to $423. The firm said their most recent channel checks reveal that after a lackluster, in-line October, November has seen significant acceleration and although December is not completely done, it will likely maintain November's momentum.

Shares Baidu.com have had a great 2007, up nearly 250% this year. Investors are hoping 2008 will be just as good.

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