Fly News Breaks for January 16, 2020
Jan 16, 2020 | 08:06 EDT
Oppenheimer analyst Jason Helfstein raised his price target for Baidu to $165 from $145 as he feels more confident ahead of the company's Q4 results and outlook on stabilizing competition and disciplined investments. The analyst believes the inventory glut in short-video, which pressured pricing, will show greater stabilization in Q4 versus Q3. Moreover, Baidu is poised to benefit from increased e-commerce competition, causing more demand for their digital ad business, he contends. On the cost side, Helfstein believes the company will continue to show discipline, and deliver better core margins, while narrowing losses for other initiatives. He maintains an Outperform rating on the shares.
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