Form 6-K Baidu, Inc. For: Jul 29

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Go back to Form 6-K Baidu, Inc. For: Jul 29

Baidu's (BIDU) Price Target Trimmed at Deutsche Bank

July 29, 2016 9:05 AM EDT

Deutsche Bank maintained a Buy rating on Baidu (NASDAQ: BIDU) and lowered its price target to $182.00 (from $199.00). The change follows an in-line print with soft guidance.

Commenting on results, analyst Alan Hellawell said, "Baidu delivered in-line results; rev grew 10% YoY to RMB18.3bn. Non-GAAP net income declined 19% YoY to RMB2.8bn. The company yet again underspent on subsidies and SG&A (RMB4.2bn vs DBe RMB5.0bn) although... More