Friday, August 19, 2005

Bear Speak: Reiteration on

We have a lot of respect for Carl and if we had a bit more cash in the coffers, we'd hire him and have him come write for us.

But we'd have to beat some sense into him, first.

Carl Futia, Ph.D of fame has a 6 month price target of $270 a share for (BIDU).

No way it's gonna happen.

The only thing you'll see do in that time period is shed more than half its IPO market cap.

The stock trades at more than 1,500 X 2005 earnings and we're talking about a company that did less than 2 million in net income last year.

Yes, its a hot Net play in an emerging market, but the bulls will come to light and realize they're paying for pennies with crisp dollar bills.

Catablast! Media Group has a table-pounding SELL rec on BIDU.

If you own it, get out now.

If you're yelling "China, China," it is time for a reality fix.

The stock will be at 60$ inside of 4-5 weeks, if not sooner.

If Google were to buy them, you could see a short lived pop in the stock price, but there's no way, even with all their damn money (2.8 billion in the bank), Google would overextend themselves and pay much more than book value for the company.

Heck, there's even talk that GOOG will take out privately owned Skype! with the money they're generating quarter after quarter.

On that note, we're demoting Baidu to UnderPerform/Sell.

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