Price Target Update on Baidu (NASDAQ:BIDU)

Baidu (NASDAQ:BIDU) : 7 Wall Street analysts covering Baidu (NASDAQ:BIDU) believe that the average level the stock could reach for the short term is $207.71. The maximum price target given is $235 and the minimum target for short term is around $182, hence the standard deviation is calculated at $19.46.

Other Equity analysts have also commented on the company shares. Equity Analysts at the Brokerage Firm, Citigroup, downgrades their rating on the shares of Baidu (NASDAQ:BIDU). Citigroup has a Neutral rating on the shares. Previously, the analysts had a Buy rating on the shares. As per the latest research report, the brokerage house lowers the price target to $180 per share from a prior target of $238. The rating by the firm was issued on June 13, 2016.

Baidu (NASDAQ:BIDU): stock turned positive on Thursday. Though the stock opened at $163.51, the bulls momentum made the stock top out at $164.96 level for the day. The stock recorded a low of $162.55 and closed the trading day at $163.92, in the green by 1.05%. The total traded volume for the day was 2,028,534. The stock had closed at $162.22 in the previous days trading.

The company shares have dropped -21.84% from its 1 Year high price. On Nov 30, 2015, the shares registered one year high at $217.97 and the one year low was seen on Aug 24, 2015. The 50-Day Moving Average price is $169.58 and the 200 Day Moving Average price is recorded at $176.61.

Baidu, Inc. (Baidu) is a Chinese-language Internet search provider (ISP). Baidu serves three types of online participants, which include users, customers and Baidu Union Members. The Company offers a Chinese-language search platform on its Website, It provides Chinese-language Internet search services to enable users to find relevant information online, including Web pages, news, images, documents and multimedia files, through links provided on its Websites. It designs and delivers its online marketing services primarily on its Website to its online marketing customers. As of December 31, 2014 the Company had approximately 813,000 active online marketing customers. Its online marketing customers consist of small and medium enterprises (SMEs) throughout China, domestic companies and Chinese divisions or subsidiaries of multinational companies.

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