Jefferies Reiterates Buy Rating on Baidu (BIDU), 'AI is key to drive monetization and efficiencies'

Jefferies analyst Thomas Chong reiterated a Buy rating and $179.00 price target on Baidu (NASDAQ: BIDU).

The analyst said: "We factor in the latest business trends and more conservative estimates across different segments. By segment, we factor in a softer advertising performance in certain categories and more prudent assumptions in cloud and non-cloud performance. AI is key to drive monetization and efficiencies with significant potential. Full year assumptions remain unchanged. Maintain Buy."

For an analyst ratings summary and ratings history on Baidu click here. For more ratings news on Baidu click here.

Shares of Baidu closed at $106.49 yesterday.

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