JP Morgan said it is raising its full-year earnings
estimates for Baidu by 1-2 pct on expectations of a
strong performance in the next few reporting periods.
"We stay bullish. Baidu shall see high growth in
quarters ahead, with higher search adoption and
Internet penetration," JP Morgan said.
Baidu reported second quarter revenue of 802.6 mln
yuan, up 100 pct year on year, which JP Morgan said
was ahead of its forecast.
JP Morgan has an "overweight" recommendation on the
stock and a 380.00 usd price target.