Baidu: A Train Heading for Derailment?

Baidu's (BIDU) valuation is reminiscent of the era circa 2000, just before the dotcom bubble popped.<!--more--> Do you recall analyst Henry Blodget’s (of Merrill Lynch fame) bold Yahoo (YHOO) price target of $425 when YHOO shares were near the $300 mark? It turned out to be a disastrous call, as YHOO’s share price subsequently plummeted by more than 95% to the $10 area.