KeyBanc Lifts Baidu, Inc. (NASDAQ:BIDU) Target Price, Sees Upside Potential

KeyBanc has raised its target price by $ 5 on Baidu, Inc. (NASDAQ:BIDU) to $ 182.00 from the previous mark of $ 177.00, suggesting the upside potential of more than 35.89 percent from the existing levels. However, the brokerage has maintained its Overweight rating on the stock, Benzinga reported.

Shares of Baidu, Inc. traded up $ 1.07 or 0.81 percent on Friday, reaching $ 133.93 with volume of 1.65 million shares. Baidu, Inc. has traded high as $ 134.14 and has cracked $ 130.30 on the downward trend According to the previous trading day, closing price of $ 133.93, representing a 62.02 % increase from the 52 week low of $ 82.00 and a 9.85 % decrease over the 52 week high of $ 147.38.

With respect to the key metrics, Baidu, Inc. stock has advanced $ 16.06 or 14.00 percent, reaching $ 117.87 during the simple moving average (SMA) period of 200 days. Similarly, the stock has increased $ 7.85 or 6.00 percent, before arriving at $ 126.08 during the SMA50-day period.

Baidu, Inc. recently reported second quarter financial results on August 13, 2020, after market close, the Beijing based company unwinded income for the second quarter of $ 2.08 per share, from the revenue of $ 3,685.00 million. The quarterly earnings fell 10.00 percent while revenues compared with the same quarter last year. Wall street analysts are predicting, BIDU to report 2Q20 income of $ 1.37 per share from revenue of $ 3690.00 million. The bottom line results beat street analysts by $ 0.71 or 51.82 percent, at the same time, top line results fell short of analysts by $ 5 million or 0.14 percent.

Moving forward, analysts polled by Thomson Reuters anticipate third quarter income of $ 2.13 per share from revenue of $ 4081.88 million. Looking ahead, the full year income are expected at $ 7.91 per share on the revenues of $ 15797.80 million.

Baidu, Inc. provides Internet search services in China and internationally. It operates through two segments, Baidu Core and iQIYI.