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Baidu Target Upped by Goldman Sachs

The Chinese Internet provider's price target has been raised by Goldman Sachs to $675 from $575.
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) -- Chinese Internet provider


(BIDU) - Get Baidu Inc. Report

price target has been raised by

Goldman Sachs

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to $675 from $575, following

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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 traffic.

-- Reported by Andrea Tse in New York

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