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, with a 52 week range of $82.98-$134.71.

Analyst Comments Analyst EPS Change Analyst EPS View Analyst PT Change

Barclays Upgrades Baidu (BIDU) to OverweightJuly 25, 2013 8:38 AM UPDATE: CLSA Upgrades Baidu (BIDU) from Underperform to BuyJuly 25, 2013 7:49 AM Baidu.com (BIDU) Tops Q2 EPS by 5c; Issues Solid Q3 Rev OutlookJuly 24, 2013 4:03 PM