griffeys shoes including macro-economic decline

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SAN FRANCISCO, July 26 evening news, Jefferies Investment Report released Tuesday,cheap asics, the maintenance of Baidu (Nasdaq: BIDU) stock "buy" rating,nike heels, target price of $ 200.
following is a summary of the report:
Baidu fiscal 2011 second quarter results exceeded our expectations and Wall Street analysts. China to continue to promote the growth of SMEs in e-commerce search market business. Baidu to benefit from favorable industry fundamentals, limited and weak competitive pressures,women griffey shoes, and technological improvements brought about by the rise in paid clicks.
Baidu shares equivalent to the current fiscal year 2012 estimated earnings growth rate of 0.4 times the city,micheal jordan heels, according to non-GAAP accounting return on equity was 43%, the current valuation attractive. We reaffirm the stock a "buy" rating, target price of $ 200.
second-quarter results exceeded Wall Street and our expectations,air griffey max gd, the strong third-quarter estimates. Baidu second-quarter revenue of 3.4 billion yuan,griffeys shoes, an increase of 78%,jordan heels, compared with market expectations and our expectations were higher than 4.9% and 3.5%. Quarter, according to U.S. GAAP accounting net profit 1.63 billion yuan,asics gel numbus, an increase of 95%, compared with market expectations and our expectations were higher than 9.2% and 6.2%. Management expects third-quarter revenue will be RMB 3.95 to 4.05 billion U.S. dollars between the year were up 75.1% and 79.5%.
benefit from the weakening of competitive pressures and increase the amount of pay per click. China started using e-commerce and SME online marketing,asics onitsuka, SME customers and an increase in the amount of pay per click search advertising revenue have contributed to the growth. Search keywords in the phoenix nest box computing technology and support, pay traffic continues to grow. At the same time, Baidu faces competitive pressures continue to weaken. Sohu recently issued a public statement that its business will Sogou search engine Google to win some market share in China. This leads us to believe, as the Chinese search engine market leader, Baidus market share may rise further.
attractive long-term prospects, increase revenue expectations. We Baidu fiscal year 2011 and 2012, respectively, is expected to increase revenue by 4.8% and 4.4%. In late April the company announced fiscal 2011 first-quarter profit expectations, we are the company in 2011 and 2012 profit forecasts for the fiscal year and then rise 5.6% and 4.9%. As a result,new ken griffey shoes, the companys next two fiscal years of revenue growth was 81% and 64%,nike air max jr 2011, profit growth was 89.8% and 64.7%.
valuation / risk: Our price target given the company the equivalent of fiscal year 2011 and 2012 earnings per share of 63.3 times and 37.5 times. The current fiscal year 2012 based on the expected stock price-earnings growth ratio of 0.4 times,Nike air 1/2 cent penny, compared with similar average discount of 50% shares. Fiscal year 2012 is currently trading at 29.3 times expected earnings,nike heels for women, 24.9 times more shares than the same premium level of 17.7%. Target price risk factors,Nike Air Griffey Max II, including macro-economic decline, as well as SMEs and the level of consumer adoption of e-commerce weaker than expected. (Leisurely)