Goldman Sachs analyst James Mitchell is giving Baidu a huge price price target hike this morning. His six month target is now $675 up from $575.
James thinks the Google plan to redirect traffic to google.com.hk will “at best be slow” and “at worst unavailable.” This will push users to a rival, most likely Baidu.
He thinks Baidu picks up 33%-75% of Google.cn’s traffic, resulting in Baidu capturing 50% of Google’s Chinese revenues.
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