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Summit Research Cuts Price Target to $205 on Baidu.com (BIDU) Following 2Q15
July 28, 2015 7:06 AM EDTSummit Research maintained a Buy rating on Baidu (NASDAQ: BIDU), and cut the price target to $205.00 (from $256.00), following 2Q15 results. Management guided 3Q15 revenue Y/Y growth to 34.4% - 37.4%, which is below consensus of 39%. Analyst Henry Guo believes that the guidance may prove conservative.
Guo commented, "While 2Q15 top and bottom came in strong as we expected, BIDU... More
