Shares of Baidu (NasdaqGS: BIDU) jumped nearly 3% Thursday after Oppenheimer upgraded the stock to outperform from perform with a $280 price target. That is nearly 33% above where the stock closed yesterday.
Baidu is the Google (NasdaqGS: GOOGL) of China. In fact, Baidu controls 81.7% of the China Internet search market compared to a meager 12% for Google China, according to KraneShares.
KraneShares CSI China Internet Fund
Todd Shriber owns shares of Alibaba.