Huge Baidu earnings forecast upgrade, on the order of 50%

Baidu is up 7.5% today, but today's analyst upgrade of its earnings forecast was more on the order of 50%, so there's lots of upside left in this stock. Baidu does have one source of drag: Chinese regulators are cracking down on tech monopolies and technology theft in accordance with the trade deal with the United States. Baidu is likely to be affected, though it's hard to know on what scale.

I have added a few BIDU shares to my position today, and will add more tomorrow if it pulls back from today's big move.

评论:

The forecast upgrade I reported in this post turned out to be a Zacks database glitch; it was not a real upgrade. Now, I do think Baidu will continue its strong performance, and I personally still own this stock. However, it is not the case that analysts upped its guidance.