Baidu’s (BIDU-NASDAQ) stock price has reached our fundamental price target of $268. As a result we are closing our buy recommendation on the stock. We now believe the Q3 EPS beat is largely priced in – We started coverage of Baidu (BIDU-NASDAQ) on September 3rd with a buy recommendation. Our bull thesis was that we expected Q3 adjusted EPS and Q4 guidance to materially beat consensus, driven by the spinoff of its money-burning Takeout Delivery business. These operating losses were not being fully accounted for in the share price in our opinion. BIDU is up 16% since Perspectec launched coverage with a Buy […]
Daily Archives: Wednesday, October 18, 2017 6:21pm
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