Baidu Stock: Next Stop, $282?
Baidu (NASDAQ: BIDU) stock hit new two-year highs last week, and it's now trading within 5% of topping the all-time highs it hit in late 2014. China's dot-com darlings have been roaring back into the market's fancy, and Wall Street pros are going along for the ride.
China's undisputed king of search has earned some fresh analyst loving this week. Ken Sena at Wells Fargo initiated coverage of Baidu on Tuesday afternoon with a $290 price target and and outperform rating. On Wednesday morning, it was Chi Tsang at HSBC pushing out a bullish update. He's sticking to his buy rating, bumping his price target from $245 to $282.
Source: Fool.com
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