Despite market concerns over the stability of China’s economy, Baidu is continuing full steam ahead on its push to dominate the Chinese Internet world. After a stellar Q3 earnings beat by Baidu, Jefferies analyst Cynthia Meng upped her price target for the stock and explained why the company’s recent partnerships and acquisitions will continue to drive performance.

Profit Beat

While Q3 revenue came in mostly in-line with expectations, profit for the quarter exceeded consensus estimates by more than 10 percent. In terms of growth, the company also reported 643 active mobile search users in September, a 26 percent year-over-year growth rate.

Other Growth Drivers

In addition to mobile search growth, Meng identified…

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