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Macquarie Upgrades Baidu (BIDU) on AI and Cloud Growth Prospects
Macquarie Upgrades Baidu (BIDU) on AI and Cloud Growth Prospects
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BTCCSquare news:
Macquarie analyst Ellie Jiang upgraded Baidu from Hold to Buy, raising the price target to $176 from $91, citing the company's strategic shift toward diversified revenue streams. Baidu shares have surged 57% year-to-date, fueled by its AI cloud segment and in-house Kunlun AI chips.
China's enterprise demand for AI cloud services is reaching an inflection point, with Baidu positioned as a key beneficiary. The upgrade reflects confidence in the company's ability to offset search revenue pressures from short-video competitors through emerging growth drivers like robotaxis and semiconductor development.
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