Citigroup Maintains Bullish View On BIDU

Citigroup is maintaining its bullish view on Baidu, Inc. (NASDAQ: BIDU) and believes the drivers for 2011 will come from:

“1) Organic growth and improvement in customer ARPU.”

“2) Increased demand from E-commerce companies on keywords and display advs.”

“3) Gradual ramp of contextual advs contribution.”

“4) Increased monetization opportunity from its mobile platform.”

Citigroup added that it maintains its Buy rating and TP of US$133, “and would view any weakness in the share price as an enhanced buying opportunity.”

Baidu, Inc currently trades at $105.00.