Susquehanna maintains a Positive rating Price target increases
from $305 to $320.
Susquehanna analyst says, "Yesterday, Baidu reported an
almost flawless quarter...We expect 4Q EPS to benefit from
continued top-line growth, solid margin, as well as a one-time
gain from outsourcing its video channel...Management
demonstrated strong confidence in Baidu's growth potential,
but did not comment on potential impact from macro slowdown
in China in 2009. We believe investors should react to the
earnings results in a constructive manner, as the stock is
trading at 25% lower than its price post 2Q results, and
the company has met growth targets in 3Q and 4Q."