Why Baidu Stock Crashed Today -- and Then Largely Recovered

Rich Smith, The Motley Fool
·2 min read
Why Baidu Stock Crashed Today -- and Then Largely Recovered

After a couple of days in which four analysts upped their price targets on Chinese search giant Baidu (NASDAQ: BIDU), the stock dropped Tuesday, falling as much as 13% in the middle of a tech stock rout on Wall Street. On Monday, both Goldman Sachs and British bank Barclays raised their price targets on Baidu stock, to $383 per share and $400, respectively. Then Susquehanna Financial entered a "Street high" price prediction (reports StreetInsider.com) that Baidu will hit $450 a share within a year.