WebProNews

We all know that Baidu, Google's archrival in China, is doing well.  But according to one firm's analysis, it's doing even better than expected, and RBC Capital has raised its price target as a result.

Even if a global slowdown would hurt it, Baidu is somewhat insulated from the problems with America's economy; the company might well stay stronger, for longer, than its U.S.-based competitors.  So although this probably won't come as a surprise, Google, Yahoo, and anything else with an arm in China will still find it disappointing.

"We believe 4Q07 is tracking better than anticipated, prompting us to raise 4Q07 estimates ahead of guidance/consensus to +17%  sequential growth (vs. prior +16%, consensus +15%)," wrote Jordan Rohan, according to Henry Blodget.  "On the heels of a good 4Q07, we also believe guidance for 1Q08 will be ahead of consensus."

And that's not all.  Rohan continued, "In short, Baidu is accelerating once again, and we have raised our 2008 and 2009 estimates and our target to $423.  BIDU remains one of the few companies in our coverage universe that is benefiting from every macro, secular, and cyclical catalysts all at the same time."

Sounds good, eh?  Assuming you own Baidu stock (which I don't).  In other recent (and positive) Baidu news, the company signed a deal with Mozilla.