saying recent weakness in the stock offers a good entry point.
The firm is reiterating their Positive rating and $444 price
target.
The firm noted that Baidu's CFO, Jennifer Li, attended their
Beijing Management Summit. Commenting on the meeting the firm
said, "During the meetings with investors, Ms. Li expressed
confidence in Baidu's growth momentum in not only the long
term, but also near to medium term. The impact from the
Olympic Games period was in-line with (rather than
underperformed) management's previous expectations, and
business bounced back strongly after the games."
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