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Technology Stocks : Baidu (BIDU)
BIDU 123.82+2.8%Dec 19 9:30 AM EST
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To: manalagi who wrote (1590)10/28/2011 5:27:08 PM
From: ChinuSFO   of 2098
 

S&P REITERATES BUY OPINION ON SHARES OF BAIDU
(Standard & Poor's)

BIDU posts Q3 profit per ADS of $0.84, vs. $0.45, $0.04 above our forecast and $0.01 above the Capital IQ consensus estimate. Revenues rose 85%, above our 76% forecast, reflecting strength in traffic, users and advertising activity. Margins were adversely affected by notable innovation and investments, but we see considerable long-term potential. We are raising our earnings per ADS estimates to $3.00 from $2.80 for '11 and to $4.50 from $4.15 for '12. Based on revised '12-driven peer analyses, we are lifting our 12-month target price to $180 from $150.

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