S&P Downgrades ADSS of Baidu from Strong Buy to Buy

October 12 00:00 2011

NEW YORK, October 12 (RainbowNewsLine.com) – Analyst Scott Kessler of S&P Equity Research downgraded Baidu ADSS (NASDAQ: BIDU) from STRONG BUY to BUY. The target price is set to $150.

Analyst Scott Kessler, in a research note published yesterday mentions that Baidu has gained 26% from its last week intra-day low and the valuation is less compelling at present. The analyst, however, expects further significant upside potential to the target price of $150. Baidu is well positioned for core business growth with content and advertisement offerings. The analyst views Baidu as a core holding and market leader in global internet industry. S&P considers risk reward ratio and the possibility of greater regulatory scrutiny and obligations.