Baidu Shares Up Nearly 2% Following Citi Upgrade to Buy, Firm Sees Consistent Revenue, Growth from 91 Wireless Buy

Baidu (NASDAQ: BIDU ) was upgraded from Neutral to Buy at Citi earlier. The price target was increased from $113 to $167. Citi said last month's acquisition of 91 Wireless for $1.9 billion poses Baidu for consistent mobile revenue as the company expands into the high growth, high margin mobile