StockNews.com upgraded shares of Baidu (NASDAQ:BIDU – Free Report) from a hold rating to a buy rating in a research note issued to investors on Friday morning.
BIDU has been the topic of a number of other reports. JPMorgan Chase & Co. lowered Baidu from an “overweight” rating to a “neutral” rating in a research report on Wednesday, November 27th. HSBC downgraded Baidu from a “buy” rating to a “hold” rating and set a $100.00 price objective on the stock. in a report on Tuesday, September 24th. Citigroup decreased their target price on shares of Baidu from $142.00 to $141.00 and set a “buy” rating for the company in a report on Friday, November 29th. Mizuho cut their price target on shares of Baidu from $130.00 to $115.00 and set an “outperform” rating on the stock in a report on Tuesday, November 12th. Finally, Barclays lowered shares of Baidu from an “overweight” rating to an “equal weight” rating in a research note on Friday, November 22nd. Ten equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, Baidu currently has an average rating of “Hold” and a consensus target price of $113.75.
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Baidu Trading Down 1.9 %
Hedge Funds Weigh In On Baidu
Several hedge funds and other institutional investors have recently added to or reduced their stakes in BIDU. Raymond James & Associates increased its stake in shares of Baidu by 31.4% during the 2nd quarter. Raymond James & Associates now owns 14,368 shares of the information services provider’s stock worth $1,243,000 after purchasing an additional 3,432 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Baidu by 38.2% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,476 shares of the information services provider’s stock worth $387,000 after buying an additional 1,238 shares during the last quarter. iA Global Asset Management Inc. acquired a new stake in shares of Baidu in the second quarter worth about $52,000. International Assets Investment Management LLC boosted its stake in shares of Baidu by 34.8% during the 2nd quarter. International Assets Investment Management LLC now owns 8,801 shares of the information services provider’s stock worth $761,000 after acquiring an additional 2,271 shares in the last quarter. Finally, Commonwealth Equity Services LLC increased its holdings in shares of Baidu by 5.9% during the 2nd quarter. Commonwealth Equity Services LLC now owns 23,787 shares of the information services provider’s stock valued at $2,057,000 after acquiring an additional 1,330 shares during the last quarter.
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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