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Fly News Breaks for September 26, 2019
BIDU, CTRP
Sep 26, 2019 | 08:01 EDT
Jefferies analyst Thomas Chong thinks the proposed secondary offering announced by Ctrip (CTRP) represents about one-third of Baidu's (BIDU) stake in the company. He sees the relationship between both companies as unchanged post the deal. Further, it should provide greater strategic flexibility for Baidu with additional U.S. dollars, and share repurchases could be one option for the cash, Chong tells investors in a research note. He keeps a Buy rating on Baidu with a $134.50 price target.
News For BIDU;CTRP From the Last 2 Days
BIDU
Nov 11, 2019 | 08:28 EST
Oppenheimer analyst Jason Helfstein upgraded Baidu to Outperform with a $145 price target following the company's "better" Q3 results, driven by stabilizing advertising trends and more disciplined investments, resulting in EBITDA that was much better than expected. In a research note to investors, Helfstein says he views Baidu's core valuation as attractive.
BIDU
Nov 11, 2019 | 06:00 EST
Oppenheimer analyst Jason Helfstein upgraded Baidu to Outperform from Perform with a $145 price target.