NEW YORK ( TheStreet) -- Early in July, I posted a bullish recommendation on Baidu (BIDU - Get Report), when the stock was still trading below $90 a share. Today, the stock posted new highs for the year near $130 a share, a gain of almost 45% in the period since the initial recommendation.The surge has been propelled by the company's latest earnings report, which showed some important improvements over analyst expectations. Baidu stock has met significant selling pressure in the last few years, as its chief rival, Qihoo 360 (QIHU) has gained in market share.
Baidu Earnings Confirm Bullish Outlook
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