Goldman Sachs Reiterates Baidu Buy Recommendation

Fintel reports that on July 17, 2023, Goldman Sachs reiterated coverage of Baidu Inc – ADR (NASDAQ:BIDU) with a Buy recommendation.

Analyst Price Forecast Suggests 23.53% Upside

As of July 6, 2023, the average one-year price target for Baidu Inc – ADR is 184.32. The forecasts range from a low of 102.01 to a high of $246.75. The average price target represents an increase of 23.53% from its latest reported closing price of 149.21.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Baidu Inc – ADR is 140,517MM, an increase of 11.16%. The projected annual non-GAAP EPS is 66.94.

What is the Fund Sentiment?

There are 765 funds or institutions reporting positions in Baidu Inc – ADR. This is an increase of 5 owner(s) or 0.66% in the last quarter. Average portfolio weight of all funds dedicated to BIDU is 0.63%, an increase of 2.37%. Total shares owned by institutions decreased in the last three months by 14.28% to 91,301K shares. The put/call ratio of BIDU is 0.75, indicating a bullish outlook.

What are Other Shareholders Doing?

Primecap Management holds 9,383K shares representing 2.68% ownership of the company. In it’s prior filing, the firm reported owning 9,470K shares, representing a decrease of 0.94%. The firm increased its portfolio allocation in BIDU by 24.50% over the last quarter.

VPMCX – Vanguard PRIMECAP Fund Investor Shares holds 5,415K shares representing 1.55% ownership of the company. In it’s prior filing, the firm reported owning 5,438K shares, representing a decrease of 0.44%. The firm increased its portfolio allocation in BIDU by 23.98% over the last quarter.

Dodge & Cox holds 3,148K shares representing 0.90% ownership of the company. In it’s prior filing, the firm reported owning 6,338K shares, representing a decrease of 101.31%. The firm decreased its portfolio allocation in BIDU by 34.87% over the last quarter.

ARGA Investment Management holds 2,992K shares representing 0.86% ownership of the company. In it’s prior filing, the firm reported owning 3,416K shares, representing a decrease of 14.18%. The firm increased its portfolio allocation in BIDU by 1.18% over the last quarter.

Ariel Investments holds 2,835K shares representing 0.81% ownership of the company. In it’s prior filing, the firm reported owning 2,853K shares, representing a decrease of 0.64%. The firm increased its portfolio allocation in BIDU by 21.60% over the last quarter.

Baidu Background Information
(This description is provided by the company.)

Founded in 2000, Baidu’s mission is to make the complicated world simpler through technology. Baidu is a leading AI company with strong Internet foundation.

Additional reading:

• THE COMPANIES ACT (AS REVISED) Company Limited by Shares FIFTH AMENDED AND RESTATED MEMORANDUM OF ASSOCIATION BAIDU, INC. Adopted by special resolution passed on 27 June 2023
• Voting Results of 2023 Annual General Meeting of Baidu, Inc.
• Baidu Announces Results of Annual General Meeting
• Baidu, Inc. (A company controlled through weighted voting rights and incorporated in the Cayman Islands with limited liability) (Stock Codes: 9888 (HKD counter) and 89888 (RMB counter)) RESULTS OF THE 2023 ANNUAL GENERAL MEETING OF SHAREHOLDERS
• Baidu, Inc. (A company controlled through weighted voting rights and incorporated in the Cayman Islands with limited liability) (Stock Code: 9888) LAUNCH OF RMB COUNTER

This article originally appeared on Fintel

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