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August 9, 2013
10:55 EDTBIDUBaidu advances after analyst raises stock rating
Shares of Chinese search engine Baidu (BIDU) are advancing after Citigroup upgraded the stock this morning. WHAT'S NEW: Baidu's revenue from mobile Internet users should continue to increase in upcoming quarters, Citigroup analyst Muzhi Li wrote in a note to investors earlier today. Mobile Internet yields higher profit margins than desktop, added Li. Moreover, the increase in Baidu's mobile Internet revenue should raise the valuation of its stock, he believes. Baidu should also be boosted by its acquisition of Chinese Internet company 91 Wireless, which has a high growth mobile app and mobile games business, the analyst added. Li upgraded Baidu to Buy from Neutral, and increased the target on the shares to $167 from $113. TODAY'S PRICE ACTION: In mid-morning trading, Baidu rose $3.30, or 2.4%, to $139.
News For BIDU From The Last 14 Days
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November 27, 2015
09:36 EDTBIDUActive equity options trading on open
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November 17, 2015
06:12 EDTBIDUBaidu to partner with Citic Bank to launch online bank, Financial Times reports
Baidu will partner with Citic Bank to launch an online bank, reports the Financial Times. China Citic Bank had suspended its shares in Shanghai and Hong Kong on Monday pending announcement of a "proposed external investment" while Baidu said it would make an announcement on Wednesday. Reference Link
November 15, 2015
13:12 EDTBIDUBaidu shares look attractive on O2O potential, Barron's says
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