[photopress:IT_Robin_Li_baidu2.jpg,full,alignright]Baidu is a stock with a lot of supporters. JP Morgan analyst Dick Wei said Baidu shares should rise to $400 by the end of next year.
The company has brand recognition and a history of offering products its users want, he said, which has made it one of the most visited Web sites in China.
He wrote, ‘We believe the continued traffic and market share gain demonstrate that management understands the Chinese users’ needs. Over the next few years, we expect another 100 million people to use the internet in China.’
He also said Baidu has a good relationship with the Chinese government.
In fact, this is an increase of about 33% by year end 2008 (15 months) which in the current stock market is not setting any records. In fact, it will almost certainly happen sooner. Robert Li, shown here and the person responsible, looks quietly confident. Not everyone agrees that the price is a fair assessment — but the buyers do and that is all that matters.
Source: Seeking Alpha