Citi reiterates Buy rating on Baidu with $166 price target, Opens 30 Day Upside Catalyst Watch

Citi analyst Alicia Yap reiterated a Buy rating and a $166.00 price target on Baidu (NASDAQ: BIDU), according to a press release statement.

The reiteration followed Citi's 2026 China TMT Corporate Day on Sept. 2, where Baidu management discussed topics including AI-powered business strategies, GPU cloud and AI cloud infrastructure revenue growth, capital expenditure trends for the second half of 2026, MaaS and AI applications, the Ernie development roadmap, and a potential dual-primary listing and Stock Connect eligibility.

Yap noted that Baidu's stock is trading at a 2026/2027 estimated price-to-earnings ratio of 17.1x and 13.4x, or 3.7x and 2.9x on an ex-cash basis. The analyst also opened a positive short-term view on the stock, citing potential Stock Connect eligibility as a possible catalyst for fund flows.

Shares of Baidu closed at $94.86 prior to the announcement.

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