Baidu INC (BIDU) Market Valuation Rose While Comgest Global Investors Sas Upped Stake

March 19, 2018 - By Clifton Ray

Comgest Global Investors Sas increased its stake in Baidu Inc (BIDU) by 9.49% based on its latest 2017Q3 regulatory filing with the SEC. Comgest Global Investors Sas bought 252,446 shares as the company’s stock rose 1.94% with the market. The institutional investor held 2.91M shares of the technology company at the end of 2017Q3, valued at $721.37M, up from 2.66 million at the end of the previous reported quarter. Comgest Global Investors Sas who had been investing in Baidu Inc for a number of months, seems to be bullish on the $88.03B market cap company. The stock decreased 3.64% or $9.56 during the last trading session, reaching $252.83. About 2.94M shares traded or 5.93% up from the average. Baidu, Inc. (NASDAQ:BIDU) has risen 12.02% since March 19, 2017 and is uptrending. It has underperformed by 4.68% the S&P500.

Comgest Global Investors Sas, which manages about $4.30B US Long portfolio, decreased its stake in Infosys Ltd (NYSE:INFY) by 6.51M shares to 26.74M shares, valued at $390.16M in 2017Q3, according to the filing. It also reduced its holding in Tractor Supply Co (NASDAQ:TSCO) by 49,200 shares in the quarter, leaving it with 12,000 shares, and cut its stake in Becton Dickinson & Co (NYSE:BDX).

Baidu, Inc. (NASDAQ:BIDU) Ratings Coverage

Among 24 analysts covering Baidu (NASDAQ:BIDU), 10 have Buy rating, 3 Sell and 11 Hold. Therefore 42% are positive. Baidu had 62 analyst reports since July 28, 2015 according to SRatingsIntel. The firm has “Overweight” rating given on Wednesday, May 11 by Morgan Stanley. JP Morgan upgraded the stock to “Neutral” rating in Monday, January 9 report. The firm earned “Sector Weight” rating on Tuesday, July 28 by KeyBanc Capital Markets. The firm has “Equal-Weight” rating given on Monday, October 30 by Barclays Capital. The firm has “Outperform” rating given on Wednesday, July 20 by Credit Suisse. The stock has “Buy” rating by Oppenheimer on Friday, July 28. As per Tuesday, January 23, the company rating was downgraded by Jefferies. Oppenheimer maintained Baidu, Inc. (NASDAQ:BIDU) rating on Monday, August 3. Oppenheimer has “Outperform” rating and $200 target. The stock of Baidu, Inc. (NASDAQ:BIDU) earned “Sector Weight” rating by Pacific Crest on Tuesday, July 28. As per Monday, February 22, the company rating was maintained by Credit Suisse.

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