Morgan Stanley Lowers Baidu (NASDAQ:BIDU) to Equal Weight

Morgan Stanley lowered shares of Baidu (NASDAQ:BIDUFree Report) from an overweight rating to an equal weight rating in a research report released on Friday morning, MarketBeat Ratings reports. They currently have $125.00 target price on the information services provider’s stock, down from their prior target price of $140.00.

Other research analysts also recently issued research reports about the company. Barclays lowered their target price on Baidu from $138.00 to $133.00 and set an overweight rating for the company in a research note on Thursday, February 29th. Citigroup lowered their target price on Baidu from $181.00 to $176.00 and set a buy rating for the company in a research note on Tuesday, April 9th. Benchmark lowered their target price on Baidu from $210.00 to $180.00 and set a buy rating for the company in a research note on Monday, May 6th. Mizuho lowered their target price on Baidu from $140.00 to $130.00 and set a buy rating for the company in a research note on Friday, May 10th. Finally, HSBC lowered their target price on Baidu from $157.00 to $145.00 and set a buy rating for the company in a research note on Wednesday, April 24th. Two analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, Baidu currently has an average rating of Moderate Buy and a consensus price target of $162.00.

View Our Latest Research Report on Baidu

Baidu Trading Down 1.5 %

Shares of Baidu stock opened at $108.87 on Friday. The firm has a 50-day moving average of $104.80 and a 200-day moving average of $108.29. The stock has a market cap of $38.18 billion, a PE ratio of 14.57 and a beta of 0.68. Baidu has a 52-week low of $94.25 and a 52-week high of $156.98. The company has a debt-to-equity ratio of 0.23, a quick ratio of 3.01 and a current ratio of 3.01.

Institutional Investors Weigh In On Baidu

A number of institutional investors have recently modified their holdings of the stock. National Bank of Canada FI lifted its holdings in Baidu by 90,390.0% in the fourth quarter. National Bank of Canada FI now owns 901,280 shares of the information services provider’s stock valued at $103,953,000 after acquiring an additional 900,284 shares during the period. Canada Pension Plan Investment Board lifted its holdings in Baidu by 49.7% in the first quarter. Canada Pension Plan Investment Board now owns 1,018,685 shares of the information services provider’s stock valued at $107,247,000 after acquiring an additional 338,110 shares during the period. Hsbc Holdings PLC raised its stake in shares of Baidu by 139.3% in the fourth quarter. Hsbc Holdings PLC now owns 536,748 shares of the information services provider’s stock worth $63,907,000 after buying an additional 312,467 shares during the period. ANTIPODES PARTNERS Ltd raised its stake in shares of Baidu by 25.7% in the third quarter. ANTIPODES PARTNERS Ltd now owns 1,322,669 shares of the information services provider’s stock worth $175,187,000 after buying an additional 270,187 shares during the period. Finally, Federated Hermes Inc. raised its stake in shares of Baidu by 15.3% in the third quarter. Federated Hermes Inc. now owns 1,794,387 shares of the information services provider’s stock worth $241,076,000 after buying an additional 238,374 shares during the period.

About Baidu

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Baidu, Inc engages in the provision of internet search services in China. It operates through two segments: Baidu Core and iQIYI. The company offers Baidu App to access search, feed, and other services using mobile devices; Baidu Search to access its search and other services; Baidu Feed that provides users with personalized timeline based on their demographics and interests; Baidu Health that helps users to find the doctor and hospital for healthcare needs; and Haokan, a short video app.

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