Susquehanna downgraded Baidu (BIDU) to Neutral from Positive with a price target of $85, down from $105. Q3 results reflected top-line pressure from a challenging macro backdrop and AI search monetization headwinds, both of which are expected to persist in Q4, the analyst tells investors. While the firm says the valuation remains “undemanding,” the analyst believes the stock is likely to remain rangebound given the macro and search headwinds.
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