Baidu (BIDU) PT Raised to $150 at Bernstein SocGen Group

Bernstein SocGen Group analyst Boris Van raised the price target on Baidu (NASDAQ: BIDU) to $150.00 (from $90.00) while maintaining a Market Perform rating.

The analyst commented: "Baidu's stock has seen a re-rating of late driven by a more positive tone from the company around capital structure and unlocking value within the Group. Specifically the company talked about exploring capital actions (ie listing) of their Robotaxi and other new ventures. They also talked about re-categorizing their AI businesses to give a clearer read on the AI growth parts. Acknowledging long held investor angst about lack of shareholder returns and signaling taking action seems enough, for the moment, to get investors to think about what Baidu’s various business could be worth. Under current market conditions, we put this value for Baidu at ~US$150/share, with US$100 attributed to the core income generating businesses, and US$50 in value from the new business ventures e.g. Robotaxi and its Net Cash/investments position."

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