Downward prospects from Baidu (NASDAQ: BIDU) despite net revenues in the first quarter have spooked investors, who have sent the shares down 15% on Nasdaq to their lowest point since mid-2013
Deutsche Bank has cut The hold of Hold from Buy, granting an exaggerated digital media area, has a greater than expected effect on the company. The bank is positive long-term, but looks forward to almost no core top-line growth for a number of quarters along with a hit on investment profits; It's slashed its target to $ 147 from $ 289, which now involves 12% upside.
Bulls, meanwhile, see a silver lining in expectations that are lowered lower. Among other analysts, Mizuhos James Lee saw a second-quarter decline in factors such as higher competition. He maintains a buy class, but lowered his price target to $ 1
More than half of the cover companies still have a purchase equivalent of the shares, with consensus price targets that involve more than 40% upside.
Daiwa has downgraded the shares to Hold with a price target of $ 145. And KeyBanc reduces its price target to $ 179 but remains overweight.
Formerly: CCB steps for Baidu sidelines after Q1 printing (May 17, 2019)
Profit notice printout