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Fly News Breaks for July 29, 2016
BIDU
Jul 29, 2016 | 05:49 EDT
Piper Jaffray analyst Gene Munster lowered his price target for Baidu to $180 after the company reduced guidance to reflect difficulties in its medical/pharma segment amid higher government scrutiny. Baidu CEO Robin Li noted that the quality/safety transition in the business will result in two-to-three uncertain quarters, which is in-line with our thinking, Munster tells investors in a research note. He keeps an Overweight rating on Baidu.
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