Monday, July 27, 2009

Analyst reaction: CS, Nomura, Pac Crest,, S&P

CS reiterates underperform, and symbolically lowers PT
from $250 to $248.

Nomura reiterates neutral rating.

China’s $585 billion stimulus package is bolstering Baidu’s
earnings as companies buy ads to sell products needed for
road, bridge and other projects funded by the government,
said Jin Yoon, an analyst at Nomura Holdings Inc. The
economy grew 7.9 percent in the second quarter after
expanding 6.1 percent in the first amid simultaneous
recessions in Europe, Japan and the U.S. “The worst is behind
us,” said Hong Kong-based Yoon. “The second half of this year
will be strong for Baidu.”

"The new bidding system should lead to more targeted results
and higher revenue over time," Steve Weinstein, an analyst
from Pacific Crest Securities said in a note. PT at $410.

S&P reiterates "Strong Sell".

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