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Fly News Breaks for January 22, 2016
BIDU
Jan 22, 2016 | 07:24 EDT
Nomura analyt Jialong Shi downgraded Baidu to Neutral and lowered his price target to $180 from $200 on shares. The analyst believes Baidu's position in mobile search is not as solid as its PC search. Baidu is not able to search for any content in third party mobile apps, which is generating most of the new content online and could handicap the Baidu mobile search experience. Shi does not expect Tencent would open up its Wechat to Baidu in the future and said Wechat search could be more appealing to users given its unique content.
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