Goldman: $273 from $212 (DCF and P/E to normalized
growth) to reflect more confidence in higher estimates.
At $273, shares would trade at 30X 2010E EPS of $9.10
and 42X 2009E EPS of $6.50.
Piper Jaffray raises to $246.
JP Morgan comments:
Strong 2Q09 revenue guidance:
Baidu guides 2Q09 revenue of Rmb 1070M to Rmb 1100 M
(US$157M to US$161M), or up 32%-36% QoQ, and
up 33%-37% YoY. Guidance is ahead of consensus
numbers of US$144.1M, and our recently revised up
forecast of US$157.8M.