UPDATE: Citigroup Reiterates Sell Rating, Lowers PT on Baidu.com
January 28, 2013 at 08:37 AM EST
In a report published Monday, Citigroup reiterated its Sell rating on Baidu.com (NASDAQ: BIDU ), but lowered its price target from $95.10 to $90.00. Citigroup noted, “We have revamped our Baidu model by applying traffic matrices to forecast its financials (vs. just customer numbers & ARPU). Baidu is in a
