A week and a half after Chinese search engine Baidu (BIDU) beat Q2 sales and profit estimates, and forecast above consensus, UBS Securities analyst Wenlin Li today raised the stock’s rating to “Neutral” from “Sell” and more than doubled its price target on the stock to $380 from $150.
Li’s upgrade follows numerous price target increases, with the highest I’ve seen being Asia-based brokerage CLSA Asia-Pacific Markets’s $430 price target.
Along with original content and posts from across the Dow Jones network, this section of AllThingsD includes Must-Reads From Other Websites — pieces we’ve read, discussions we’ve followed, stuff we like. Six posts from external sites are included here each weekday, but we only run the headlines. We link to the original sites for the rest. These posts are explicitly labeled, so it’s clear that the content comes from other websites, and for clarity’s sake, all outside posts run against a pink background.
We also solicit original full-length posts and accept some unsolicited submissions.
