Baidu (BIDU), the Chinese search engine giant, seems all set for a bull ride if analyst estimates are any evidence to go by. Analysts across various firms have raised their target price for the company over the last 10 days. Analysts from Citigroup, HSBC and Pacific Crest have given a target stock price between $157 and $167. Also Citigroup and The Street upgraded their rating to a buy rating on Baidu stock. The Baidu stock has seen a tremendous bull run having jumped over 26% since the earnings announcement for Q2 2013 on July 24th. (Baidu stock price as of Aug 13, 2013 is $141.53)
The below chart shows that Baidu stock has seen a tremendous jump since the beginning of the year.
Source: Baidu stock price by Amigobulls
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