Baidu: On Google Move, Kaufman Says Buy; Goldman Ups Target
Baidu (BIDU) shares continue to be levitated by Google’s (GOOG) move away from the China search market.
- Kaufman Bros. analyst Aaron Kessler this morning upgraded BIDU to Buy from Hold, with a $690 price target. “While there is still uncertainty into the final outcome of Google’s ability to operate an uncensored search site in China, we believe that in the near-term it is very likely the government would restrict access,” he writes. Kessler said he is assuming an 80 percent probability that the government would restrict access.