just a bit of valuation theory...

Businesses are valued as the total discounted value of future cash flows (for simplification total of undiscounted cash in next 10y-20y, which currently for Baidu one year CF is 3bn) less net debt +20b (interest bearing liabilities (-10b) less cash (+30b)).

At current price levels, Baidu business is 'expected' to be worth 14b, plus 20b cash reserves.

Accordingly to valuation methods it should be 3bn (per year) x 10y = 30bn + 20bn net cash = 50bn (currently 33bn). 50% upside and regular analysts valuation.

Assuming its a growth technology stock, not a mature cash cow, can value it at 20y (for simplification) thus we get 3bn x 20y +20bn = 80bn. 140% upside.

In this simplified way, I encourage everybody to make their own assessment where the business is going and therefore where the price is going.