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NEW YORK (TheStreet) -- Shares of Baidu (BIDU) were retreating in early-morning trading on Wednesday as JPMorgan assumed coverage of the stock with an "underweight" rating, the Fly reports.

The firm also cut its price target to $164 from $190 on shares of the Chinese Internet search provider.

Baidu's core search business faces growing pressure as ad budgets move to social platforms and verticals, JPMorgan said.

Additionally, the firm believes the Beijing-based company does not have other visible growth drivers besides search, the Fly noted.

Separately, TheStreet Ratings Team has a "Buy" rating with a score of B- on the stock.

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The company's strengths can be seen in multiple areas, such as its solid stock price performance, revenue growth, notable return on equity, reasonable valuation levels and largely solid financial position with reasonable debt levels by most measures.

The team believes strengths outweigh the fact that the company has had sub par growth in net income.

Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.

You can view the full analysis from the report here: BIDU

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