Thursday, April 24, 2008

RBC positive on Baidu's earnings outlook

Expects them to beat estimates and raise guidance.
After a challenging qtr, affected by weather and
mgmt change, traffic rebounded in Feb after the
Chinese New Year and remained robust throughout
March. Firm expects the co to beat 1Q08 ests and
issue 2Q08 guidance in excess of consensus. Street
EPS ests for 2009 should head higher after the
report by about $0.50-1.00, and firm expects
their price target to follow accordingly.

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