The Morgan Stanley Initiates Coverage on Baidu Inc. (BIDU)

The Morgan Stanley Initiates Coverage on Baidu Inc. (BIDU)

Equities researchers at Morgan Stanley started coverage on shares of Baidu Inc. (NASDAQ:BIDU) in a report released on Tuesday. The brokerage set an “equal weight” rating and a $185.00 price target on the stock. Morgan Stanley’s price target would suggest a potential upside of 4.79% from the stock’s current price.

A number of other research firms also recently commented on BIDU. Cantor Fitzgerald initiated coverage on Baidu in a report on Monday, December 19th. They issued an “underweight” rating and a $126.00 price objective on the stock. Zacks Investment Research upgraded Baidu from a “sell” rating to a “hold” rating in a report on Tuesday, October 4th. Vetr downgraded Baidu from a “strong-buy” rating to a “buy” rating and set a $198.31 price target on the stock. in a report on Tuesday, January 10th. Brean Capital reiterated a “buy” rating and set a $196.00 price target (down previously from $197.00) on shares of Baidu in a report on Friday, October 28th. Finally, Jefferies Group reiterated a “buy” rating and set a $188.00 price target on shares of Baidu in a report on Monday, December 26th. Three investment analysts have rated the stock with a sell rating, twelve have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $190.60.

Shares of Baidu (NASDAQ:BIDU) opened at 176.54 on Tuesday. The firm has a market capitalization of $61.24 billion, a PE ratio of 13.33 and a beta of 1.91. Baidu has a one year low of $139.61 and a one year high of $201.00. The firm’s 50 day moving average is $169.35 and its 200-day moving average is $172.04.

A number of hedge funds have recently made changes to their positions in BIDU. Cornerstone Advisors Inc. raised its stake in shares of Baidu by 0.8% in the second quarter. Cornerstone Advisors Inc. now owns 605 shares of the company’s stock worth $100,000 after buying an additional 5 shares during the last quarter. Boston Private Wealth LLC raised its stake in shares of Baidu by 0.6% in the third quarter. Boston Private Wealth LLC now owns 1,820 shares of the company’s stock worth $331,000 after buying an additional 11 shares during the last quarter. IFP Advisors Inc raised its stake in shares of Baidu by 0.7% in the second quarter. IFP Advisors Inc now owns 2,013 shares of the company’s stock worth $332,000 after buying an additional 14 shares during the last quarter. Cambridge Advisors Inc. raised its stake in shares of Baidu by 1.2% in the third quarter. Cambridge Advisors Inc. now owns 1,698 shares of the company’s stock worth $309,000 after buying an additional 20 shares during the last quarter. Finally, Westport Resources Management Inc. raised its stake in shares of Baidu by 1.0% in the second quarter. Westport Resources Management Inc. now owns 2,801 shares of the company’s stock worth $463,000 after buying an additional 28 shares during the last quarter. Hedge funds and other institutional investors own 62.39% of the company’s stock.

Baidu Company Profile

Baidu, Inc is a Chinese language Internet search provider. The Company offers a Chinese language search platform on its Baidu.com Website that enables users to find information online, including Webpages, news, images, documents and multimedia files, through links provided on its Website. In addition to serving individual Internet search users, the Company provides a platform for businesses to reach customers.

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