Wednesday, June 25, 2008

Pacific Crest out with a buy rating

In a note to clients, Pacific Crest analyst
Steve Weinstein advised clients to buy Baidu,
China's leading Internet search engine, ahead
of its second-quarter earnings report.
Weinstein said second-quarter revenues are
likely to be above the high end of the
company's previous guidance of $111 million
to $114 million, and his own estimate of
$114.5 million. Weinstein said he anticipates
raising his 2008 revenue forecast after the
company announces second-quarter earnings,
and he thinks Baidu will show 100% revenue
growth this year and next year.

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