Shares of Chinese Internet search giant Baidu (BIDU) have doubled in the last year. Baidu already had a dominant share but it really cemented its position after Google (GOOG) temporarily shut down its search operations in the country and threatened to leave in early 2010.
But it's not just the market share that's giving Baidu a boost.
"A lot of the growth at Baidu had to do with the launch of a new advertising platform, which improved the relevancy of the ads that users see," said Pacific Crest Securities analyst Steve Weinstein.
Baidu's number of paid clicks soared 56% in 2010, marking a significant improvement from the 17% increase in 2009. As Baidu refines its algorithm, Deutsche Bank analysts say the number of clicks will continue to increase and they expect Baidu's stock to rise 23% to $174.
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