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bidu logoWR 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 (NASDAQ:BIDU) with a "Buy" rating due to its advertiser-friendly model and strong growth prospects. Their note follows in its entirety.

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BIDU 1-yr chart:
bidu 1-yr chart

Source: The Long Case For Baidu.com