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Baidu (BIDU -5.5%) slumps after Barclays lowers its PT to $153 from $189. Like others, the firm...
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Wednesday, August 29, 2012, 2:38 PM ETBaidu (BIDU -5.5%) slumps after Barclays lowers its PT to $153 from $189. Like others, the firm is worried about the impact of Qihoo's (QIHU +2%) new search engine, and predicts the engine will impact Baidu's 2013 Chinese search traffic and revenue shares by 6% and 2%, respectively. Nonetheless, Barclays, which has struck a bullish tone on Baidu since launching coverage last October, thinks the company will remain the dominant player in Chinese search.
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