Baidu Target Upped by Goldman Sachs
The Chinese Internet provider's price target has been raised by Goldman Sachs to $675 from $575.
NEW YORK (
) -- Chinese Internet provider
Baidu's
(BIDU) - Get Report
price target has been raised by
Goldman Sachs
(GS) - Get Report
to $675 from $575, following
Google's
(GOOG) - Get Report
decision to move out of China and begin redirecting Web traffic to Hong Kong.
Analysts believes the Chinese government will limit access to Google's Hong Kong search engine, which could in turn help boost Baidu's traffic. Goldman Sachs believes that Baidu will be able to obtain 33% to 75% of Google.cn traffic.
-- Reported by Andrea Tse in New York
Follow TheStreet.com on
and become a fan on
Copyright 2009 TheStreet.com Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.









