Baidu (BIDU) Message Board

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Technology Stocks : Baidu (BIDU)

BIDU 124.66

+0.7%

12:55 PM EST

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To: ChinuSFO who wrote (1393)	7/22/2010 1:18:36 PM
From: manalagi	Read Replies (1) of 2098

Raising the target price by 14% and yet reiterating a HOLD on the stock? S&P REITERATES HOLD OPINION ON ADSS OF BAIDU (Standard & Poor's) BIDU posts 2Q profit per ADS of $0.35 vs. $0.16, $0.09 above our forecast, reflecting continuing strong growth and execution. Revenues rose 74%, due largely to notable increases in customers and revenue per customer for BIDU online marketing solutions. Gross margin also continued to trend higher, reflecting benefits from new technology. We are raising our earnings per ADS projections to $1.23 from $1.01 for '10, and to $1.64 from $1.32 (reflecting recent 10-for-1 split). Based on revised peer comparisons, we boost our 12-month target price to $90 from $79.

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