Baidu.com Analyst Pile-One (BIDU)

Photo of Douglas A. McIntyre
By Douglas A. McIntyre Updated Published
This post may contain links from our sponsors and affiliates, and Flywheel Publishing may receive compensation for actions taken through them.

Baidu_logoBaidu.com, Inc. (NASDAQ: BIDU) looks like an analyst convention started on the steps to its corporate headquarters.  The Chinese search giant did manage to score an upgrade, but it also took a downgrade and saw a price target slashed.

  • Credit Suisse raised Baidu.com to Neutral from Underperform; target raised to $184 from $138.
  • Citigroup cut it to Sell from Buy; new target is $110 from $300 in an extreme change of heart.
  • Goldman Sachs took its target price down to $225 from $260.

This is on the heels of an reports from earlier in the week of an expose by China’s state-ownedTV network.  That expose showed reports that Baidu had been putting theWeb sites of unlicensed pharmaceutical and medical companies into itssearch results for popular medical terms.  Oddly enough, the reportalso said that Baidu was excluding sites that didn’t pay.

Shares closed down over $$17.00 at $111.74 yesterday, and it is so fartoo early to have any real indications with two and a half hours untilthe open.

Jon C. Ogg
November 20, 2008

Photo of Douglas A. McIntyre
About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

Featured Reads

Our top personal finance-related articles today. Your wallet will thank you later.

Continue Reading

Top Gaining Stocks

CBOE Vol: 1,568,143
PSKY Vol: 12,285,993
STX Vol: 7,378,346
ORCL Vol: 26,317,675
DDOG Vol: 6,247,779

Top Losing Stocks

LKQ
LKQ Vol: 4,367,433
CLX Vol: 13,260,523
SYK Vol: 4,519,455
MHK Vol: 1,859,865
AMGN Vol: 3,818,618