Citigroup Downgrades Baidu Inc (ADR) to Neutral with Price Target $180.00

Brokerage firm Citigroup Downgrades its rating on Baidu Inc (ADR)(NASDAQ:BIDU). In a research note issued to the investors, the brokerage major Lowers the price-target to $180.00 per share. The shares have been rated Neutral. Previously, the analysts had a Buy rating on the shares. The rating by Citigroup was issued on Jun 13, 2016.

In a different note, On May 12, 2016, Jefferies said it Maintains its rating on Baidu Inc (ADR). In the research note, the firm Lowers the price-target to $225.00 per share. The shares have been rated ‘Buy’ by the firm. On May 11, 2016, Morgan Stanley said it Maintains its rating on Baidu Inc (ADR). In the research note, the firm Lowers the price-target to $230.00 per share. The shares have been rated ‘Overweight’ by the firm. On May 2, 2016, Macquarie said it Maintains its rating on Baidu Inc (ADR). In the research note, the firm Raises the price-target to $246.00 per share. The shares have been rated ‘Outperform’ by the firm. On Apr 29, 2016, Brean Capital said it Upgrades its rating on Baidu Inc (ADR). The shares have been rated ‘Buy’ by the firm. On Apr 25, 2016, Jefferies said it Maintains its rating on Baidu Inc (ADR). In the research note, the firm Raises the price-target to $196.00 per share. The shares have been rated ‘Buy’ by the firm.

Baidu Inc (ADR) (BIDU) shares turned negative on Fridays trading session with the shares closing down -2.84 points or -1.72% at a volume of 32,20,723. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $165.84. The peak price level was also seen at $165.84 while the days lowest was $161.85. Finally the shares closed at $162.68. The 52-week high of the shares is $217.97 while the 52-week low is $100. According to the latest information available, the market cap of the company is $56,335 M.

Baidu Inc (ADR)(BIDU) last announced its earnings results on Apr 28, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $2.45B. Analysts had an estimated revenue of $15.76B. Earnings per share were $1.06. Analysts had estimated an EPS of $6.25.

Baidu Inc. (Baidu) is a Chinese-language Internet search provider (ISP). Baidu serves three types of online participants which include users customers and Baidu Union Members. The Company offers a Chinese-language search platform on its Website Baidu.com. It provides Chinese-language Internet search services to enable users to find relevant information online including Web pages news images documents and multimedia files through links provided on its Websites. It designs and delivers its online marketing services primarily on its Baidu.com Website to its online marketing customers. As of December 31 2014 the Company had approximately 813000 active online marketing customers. Its online marketing customers consist of small and medium enterprises (SMEs) throughout China domestic companies and Chinese divisions or subsidiaries of multinational companies.

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