Tuesday, October 2, 2007

$300, $400 ... do I hear $500?

So this is what it's come to. The big boys on the street are "initiating" price targets on BIDU, which traded below $100 just six months ago. The latest initiation, if it can be called that, is from J.P. Morgan.

Baidu: J.P. Morgan Starts Coverage; Sets $400 Target

This explains today's 14% move, a $40 move to $324 (after hours). This comes after another brokerage house declared $300 as the target recently. I think $500 is coming soon, but I can't justify buying BIDU at these ridiculous levels. I also can't see why anyone would short this stock, either. There are only two things I like about the Co: China growth and CEO Robin Li. Oh, and major protection from Big Brother. That never hurts.

And the Baidu TV commercials are hilarious and morbid.

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