S&P REITERATES HOLD OPINION ON BAIDU.COM INC. ADS
BIDU; $398.87
Baidu.com announces its CFO Shawn Wang tragically
passed away on December 27, in an accident in China
during a holiday vacation. Wang joined Baidu.com in
Sep. 2004, and we think contributed notably to the
company's success. Baidu.com's most recently filed
20-F identified Wang as critically important to the
company, and potentially very difficult to replace.
In our view, Wang's loss is a notable negative,
especially given its suddenness. Nonetheless, we
believe Baidu.com will remain the leader in Chinese
Internet search. We maintain our 12-month target
price at $400. /S. Kessler
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