Baidu Can Still Win in 2019
A pair of analysts put out updated notes on Baidu (NASDAQ: BIDU) on Friday. The bad news is that the two Wall Street bulls slashed their price targets on the stock. Hans Chung lowered his price target for China's leading search engine from $160 to $148. Tian Hou at TH Data Capital cut even deeper, dropping his price goal from $220 to $135.
The good news here is that starting lines matter. With Baidu shares crashing below $100 this week and hitting a six-year low on Friday, the new price targets suggest upside of 53% and 40%, respectively, off Friday's lows. Both analysts are sticking with their bullish ratings on the stock, and are cautiously optimistic ahead of Baidu's second-quarter results that will roll out later this month.
Image source: Baidu.
Source Fool.com
