Deutsche Bank said Baidu is an "excellent margin story"
and said the transition to new ad system Phoenix Nest
was faster than expected. They reiterated their Buy
rating and $374 price target. They also noted Baidu's
search traffic share seems to have steadily increased
since March end.
CLSA lifted its price target today to a 'Street High' $430,
reiterating their Buy rating.
Susquehanna said large advertisers, margin expansion
led to better EPS. The firm raised their price target to $380,
reiterating their Positive rating.