Susquehanna, Pali research raise targets

Susquehanna raised its price target on Baidu
from $230 to $250, maintaining their Positive
rating on the stock, ahead of Q1 results on April 27.
The firm said the company could guide
Q2 revenues above RMB 1 bln for the first time.

The firm said, "Due to continued recovery post
Chinese New Year, we expect some small upside to
1Q results. We believe the focus will be on the
company's 2Q revenue guidance, which we think
will show 30%+ Q/Q growth. This should lead to
Baidu's quarterly revenue topping RMB 1 bln for
the first time in its history, and indicative of a
comeback in growth momentum."

Meanwhile Pali raised its target from $90 to $150,
and rating from "sell" to "underperform".