Susquehanna analyst Shyam Patil lowered the firm’s price target on Baidu to $105 from $135 and keeps a Positive rating on the shares. Baidu continues to face a challenging macro environment, which, coupled with headwinds from its AI-powered search experience, caused some pressure on the top line in Q2, the analyst tells investors in a research note. Management is focused on what it can control and remains optimistic that generative AI initiatives can help reaccelerate growth over time, the firm says.
Don't Miss Our Christmas Offers:
- Discover the latest stocks recommended by top Wall Street analysts, all in one place with Analyst Top Stocks
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on BIDU:
- Cheche Technology announces partnership with NEV company JI YUE
- Why Is Tesla Stock Still Trading At a Huge Premium?
- Baidu price target lowered to $115 from $120 at Loop Capital
- Lyft upgraded, Baidu downgraded: Wall Street’s top analyst calls
- Bernstein downgrades Baidu on ‘significant change’ to AI monetization