Baidu: MS downgrades to ‘equal-weight’ on weak ads, sluggish AI monetization
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Baidu (BIDU) PT Lowered to $165 at UBS
May 17, 2024 5:59 AM EDTUBS 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
