Friday, July 24, 2009

Analyst reaction: Goldman Sachs raises PT to $376

Goldman Sachs said Baidu's Q2 results exceeded
their revenue and margin forecasts. Goldman said
they were surprised that TAC climbed to 17% of
revenues, but said BIDU still beat on margins.
The analyst raised his price target on Baidu from
$350 to $376, maintaining the top Conviction Buy
List rating on the shares.

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