Cramer Gives A Monster Price to Baidu.com (BIDU, GOOG)
October 12, 2007 by Douglas A. McIntyreJim Cramer just said noted on CNBC’s STOP TRADING segment that Baidu.com (NASDAQ:BIDU) is growing at 80% and the downgrades or cautionary comments aren’t warranted. He even went as far to say "Baidu could go to $500.00," although that sounded more like conjecture than a formal target. Shares were up over 2% but now shares are suddenly up over 4% on stronger volume to a $322.00 level. When this was falling apart yesterday we noted the old bubble lessons learned from the dot.com days.
His Google (NASDAQ:GOOG) went from $600.00 to $700.00, then $701.00 last week to a new higher target of $750.00 recently. Once again, this Baidu.com $500.00 didn’t sound like a formal target but it’s definitely a number that will grab some attention.
Baidu.com is not one of Cramer’s "new four horsemen of tech" but this was one of his key feature stocks that he felt was better than other Chinese stocks.
Jon C. Ogg
October 12, 2007
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