Baidu (BIDU) PT Raised to $185 at Benchmark
Benchmark analyst Fawne Jiang raised the price target on Baidu (NASDAQ: BIDU) to $185.00 (from $165.00) while maintaining a Buy rating following the company's 3Q earnings report. BIDU reported solid 3Q20 results, headlined by an outsized beat on non-GAAP EPADS and notable operating margin improvement on better-than-expected revenues.
Benchmark guided 4Q revenue ahead of street expectations, reflecting a gradual recovery of the core online marketing business partially offset by a slightly soft outlook from iQiyi.