Baidu: All Set For A Bull Ride

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.
Baidu stock price chart
Source: Baidu stock price by Amigobulls

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Neither Amigobulls, nor any members of its staff hold positions in any of the stocks discussed in this post. The author may not be a certified/registered investment advisor, and the opinions expressed should not be treated as investment advice. Buying and selling of securities carries the risk of monetary losses. Readers/Viewers are advised to carry out their own due diligence and consult their investment advisors before making any investment decisions. Neither Amigobulls, nor the author have any business relationship with any of the companies covered in this post.

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