Baidu 'confident' AI will sustain growth after sluggish first quarter
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May 17, 2024 5:59 AM EDT
UBS analyst Wei Xiong lowered the price target on Baidu (NASDAQ: BIDU) to $165.00 (from $170.00) while maintaining a Buy rating.
The analyst comments "1) Core business: Core ads +2.7% YoY in 1Q amid weak macro despite the benefit from incremental AI-powered ads that enhances conversion. Baidu is incorporating AI into search for certain verticals for... More
May 16, 2024 4:20 PM EDT
Jefferies analyst Thomas Chong reiterated a Buy rating and $179.00 price target on Baidu (NASDAQ: BIDU).
The analyst comments "Baidu reported 1Q results. During conference call, management highlights about the progress of generative AI in search and rapid rise in no of API... More
May 16, 2024 3:15 PM EDT
CFRA analyst Angelo Zino reiterated a Hold rating and $120.00 price target on Baidu (NASDAQ: BIDU).
The analyst comments "We maintain our 12-month target at USD120, using a P/E of 9.7x our '25 EPS view, near China-based peers. We increase... More
May 16, 2024 5:59 AM EDT
Baidu US-listed shares (NASDAQ: BIDU) rose 2% in premarket trading Thursday after the Chinese internet giant reported better-than-expected Q1 revenue, while earnings matched analyst estimates.
Baidus Hong Kong-listed stock fell 0.7%.
The company posted Q1 earnings per share (EPS) of RMB16.10, matching consensus... More
