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Tuesday, September 18th, 2007

Shares of Baidu - “China’s Google” - Surge

From Staff Reports

Shares of Chinese search engine Baidu (BIDU) hit a record high yesterday (Monday) after an RBC Capital Markets analyst increased his price target for the stock on expectations for a solid third quarter, according to The Associated Press.

In a note to clients Monday, RBC analyst Jordan Rohan raised his price target from $302 to $333 and reiterated his “outperform” rating for the stock. Rohan believes the company will be able to bring on as many or more advertisers during the third quarter as it did in the second.

Also, while the Chinese search market remains strong, attempts by U.S.-based Google Inc. (GOOG) to seize shares of the market have not affected Baidu’s stranglehold. According to a survey released by China IntelliConsulting Corp. Baidu and Google comprise 92.4% of total primary users in the Chinese online search market. While Google is gaining ground, it seems to be at the expense of its smaller competitors.

Baidu stock closed up 7.67% on the day. It has climbed more than 120% in the first eight months this year.


More on this topic (What's this?)
Roubini Foresees Chinese Hard Landing (naked capitalism, 11/5/08)
"China may be heading for a severe economic slowdown" (naked capitalism, 11/7/08)
Google Sets Up For Fall Below $300 (Stock Trading To Go, 11/10/08)
"The Next Google" … Again! (Stock Gumshoe, 9/26/07)
Read more on Baidu.com, Google, U.S. – China Trade Dispute at Wikinvest

Jim Rogers: China’s Expansion Depends on Water

Oil isn’t China’s most precious resource. China must spend $162 billion in the next five years to clean up its polluted rivers-as nearly 40% of them are undrinkable. "China has a huge water problem," Legendary investor Jim Rogers says. "…If they don’t solve it, or if they don’t solve it in time, then China has failed." Find out which six global water treatment powerhouses are set to make “liquid profits.”




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