Thursday, March 5, 2009

Citi's Brueschke upgrades Baidu

to outperform, with $180 price target. Says traffic
has improved more than expected after the New Year
holidays, and Baidu likely will beat expectations for Q1.
Still sees medium-term risk in Taobao luring away ad
dollars, and the move to having ads on the right side of
the page reducing clickthru rates.

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