WR Hambrecht analysts James Lee and Xiaofan Zhang recently sent a note to clients in which they initiated coverage of Chinese internet search leader Baidu.com (BIDU) with a "Buy" rating due to its advertiser-friendly model and strong growth prospects. Their note follows in its entirety.
click to enlarge
click to enlarge
click to enlarge
click to enlarge
click to enlarge
click to enlarge
click to enlarge
click to enlarge
click to enlarge
click to enlarge
click to enlarge
click to enlarge
BIDU 1-yr chart:
