Susquehanna Boosts Price Target on Baidu.com (BIDU) to $250

Susquehanna raised its price target on Baidu.com, Inc. (Nasdaq: BIDU) from $230 to $250, maintaining their Positive rating on the stock, ahead of Q1 results on April 27. The firm said the company could guide Q2 revenues above RMB 1 bln for the first time.

The firm said, "Due to continued recovery post Chinese New Year, we expect some small upside to 1Q results. We believe the focus will be on the company's 2Q revenue guidance, which we think will show 30%+ Q/Q growth. This should lead to Baidu's quarterly revenue topping RMB 1 bln for the first time in its history, and indicative of a comeback in growth momentum."

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