Baidu (NASDAQ:BIDU) Rating Increased to Buy at Dbs Bank

Key Points

• Dbs Bank upgraded Baidu from a "hold" rating to a "buy" rating, setting a new price target of $177.00, indicating a potential upside of 33.16% from the current stock price.
• Other brokerages have also recently issued positive updates, with price targets ranging from $95.00 to $157.00, reflecting growing optimism about Baidu's stock.
• Baidu currently has a consensus rating of "Hold" and a target price of $122.42, with a mix of ratings from analysts including one "Strong Buy," eight "Buy," nine "Hold," and one "Sell."

Baidu (NASDAQ:BIDU - Get Free Report) was upgraded by Dbs Bank from a "hold" rating to a "buy" rating in a report released on Thursday,MarketScreener reports. The firm currently has a $177.00 price objective on the information services provider's stock, up from their prior price objective of $85.00. Dbs Bank's price target would indicate a potential upside of 33.16% from the company's current price.

A number of other brokerages have also issued reports on BIDU. Arete raised shares of Baidu from a "sell" rating to a "buy" rating and set a $143.00 price objective for the company in a report on Tuesday, September 16th. Susquehanna raised their price objective on Baidu from $85.00 to $95.00 and gave the company a "neutral" rating in a research report on Tuesday, September 2nd. Jefferies Financial Group raised their price target on Baidu from $108.00 to $157.00 and gave the company a "buy" rating in a report on Wednesday, September 17th. Wall Street Zen lowered shares of Baidu from a "hold" rating to a "sell" rating in a research report on Friday, August 22nd. Finally, Nomura lifted their price target on Baidu from $91.00 to $135.00 and gave the stock a "neutral" rating in a research report on Monday. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Baidu has a consensus rating of "Hold" and a consensus target price of $122.42.

Baidu Stock Performance

Shares of NASDAQ BIDU opened at $132.92 on Thursday. The company has a current ratio of 1.85, a quick ratio of 1.85 and a debt-to-equity ratio of 0.19. Baidu has a 12-month low of $74.71 and a 12-month high of $141.60. The firm has a market capitalization of $45.92 billion, a price-to-earnings ratio of 12.25 and a beta of 0.34. The firm has a 50 day moving average of $98.64 and a 200 day moving average of $91.57.

Institutional Trading of Baidu

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Royal Bank of Canada grew its position in shares of Baidu by 28.3% in the first quarter. Royal Bank of Canada now owns 160,713 shares of the information services provider's stock valued at $14,791,000 after purchasing an additional 35,479 shares during the period. Integrity Alliance LLC. acquired a new position in Baidu in the 1st quarter valued at $247,000. FNY Investment Advisers LLC acquired a new stake in Baidu during the 1st quarter worth $922,000. Janney Montgomery Scott LLC acquired a new stake in shares of Baidu in the first quarter valued at about $274,000. Finally, NewEdge Advisors LLC raised its holdings in Baidu by 39,363.0% in the 1st quarter. NewEdge Advisors LLC now owns 21,310 shares of the information services provider's stock valued at $1,961,000 after acquiring an additional 21,256 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.