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Jim Cramer — I Don't Want to Own Baidu After Reading This Report

Shares of Baidu (BIDU) are down 2% Wednesday after analysts at J.P. Morgan resumed coverage of the stock with an underweight rating and a $164 price target.

This is a "devastating" piece of research, TheStreet's Jim Cramer, co-manager of the Action Alerts PLUS portfolio, said on CNBC's "Mad Dash" segment.