StockNews.com upgraded shares of Baidu (NASDAQ:BIDU – Free Report) from a hold rating to a buy rating in a research report sent to investors on Monday.
A number of other research firms have also recently weighed in on BIDU. Loop Capital cut their price target on Baidu from $155.00 to $130.00 and set a buy rating on the stock in a report on Friday, June 21st. Macquarie lowered Baidu from a strong-buy rating to a hold rating in a research report on Friday, May 17th. HSBC lowered their price target on Baidu from $157.00 to $145.00 and set a buy rating on the stock in a report on Wednesday, April 24th. Morgan Stanley downgraded shares of Baidu from an overweight rating to an equal weight rating and reduced their price objective for the stock from $140.00 to $125.00 in a report on Friday, May 17th. Finally, Mizuho lowered their target price on shares of Baidu from $140.00 to $130.00 and set a buy rating on the stock in a research note on Friday, May 10th. Two investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average price target of $156.64.
View Our Latest Report on BIDU
Baidu Stock Up 2.8 %
Hedge Funds Weigh In On Baidu
Hedge funds and other institutional investors have recently modified their holdings of the stock. Nordea Investment Management AB lifted its stake in Baidu by 14.5% during the first quarter. Nordea Investment Management AB now owns 398,387 shares of the information services provider’s stock valued at $42,125,000 after buying an additional 50,599 shares in the last quarter. Trexquant Investment LP purchased a new position in Baidu during the 4th quarter worth approximately $1,476,000. Perpetual Ltd raised its stake in Baidu by 45.4% during the 1st quarter. Perpetual Ltd now owns 147,165 shares of the information services provider’s stock valued at $15,451,000 after purchasing an additional 45,975 shares during the period. Jennison Associates LLC lifted its holdings in shares of Baidu by 54.5% in the fourth quarter. Jennison Associates LLC now owns 85,306 shares of the information services provider’s stock valued at $10,159,000 after purchasing an additional 30,103 shares in the last quarter. Finally, ANTIPODES PARTNERS Ltd boosted its position in shares of Baidu by 8.8% in the fourth quarter. ANTIPODES PARTNERS Ltd now owns 1,438,716 shares of the information services provider’s stock worth $171,336,000 after buying an additional 116,047 shares during the period.
About Baidu
Baidu, Inc engages in the provision of internet search services in China. It operates through two segments: Baidu Core and iQIYI. The company offers Baidu App to access search, feed, and other services using mobile devices; Baidu Search to access its search and other services; Baidu Feed that provides users with personalized timeline based on their demographics and interests; Baidu Health that helps users to find the doctor and hospital for healthcare needs; and Haokan, a short video app.
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