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Fly News Breaks for May 10, 2016
BIDU
May 10, 2016 | 07:50 EDT
Oppenheimer analyst Jason Helfstein lowered his price target for Baidu to $225 from $240 after the Cyberspace Administrative of China concluded the investigation against the company's recent wrongdoing in healthcare advertising. Baidu will be required to remove unqualified health-related advertisers, base search results more on advertisers' reputation and reliability over bidding price and limit paid-search results to below 30% of total results per page, the analyst tells investors in a research note. Helfstein reiterates an Outperform rating.
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