Baidu boosted by sell-side after earnings

|By:, SA News Editor

"Despite a purported heavy investment plan for the rest of FY14, we believe the market has underestimated Baidu's (BIDU +1.2%) viability and is overly conservative on its growth /earnings outlook," says Deutsche's Alan Hellawell III, upgrading the stock to Buy with price target lifted to $229 from $178. "We believe it is unjustified for BIDU to trade at a significant discount vs. [peers] amid steadily improving fundamentals."

Reiterating its Buy rating, Goldman lifts the price target to $225 from $215.

Previous earnings coverage