Baidu price target raised to $95 from $83 at Barclays

Barclays raised the firm’s price target on Baidu (BIDU) to $95 from $83 and keeps an Equal Weight rating on the shares. The firm cites the re-rating of the broader Chinese American shares for the target increase. However, it remains on the sidelines, awaiting the turning point of Baidu’s generative artificial intelligence cannibalization on advertising revenues to end and for advertising revenue growth to resume.