Baidu Shares to Stay Explosive, Thanks to Artificial Intelligence

On July 27, after the close, Baidu Inc  (BIDU) beat on earnings per share and revenue expectations. Shares rocketed higher by about 10% on Friday, the following session. In Monday’s early trading session, shares of Baidu are extending their gains, climbing 2.83% to $226.25.  It was a strong quarter, where operating income climbed 47% year over year. Analysts at Cantor Fitzgerald were quick to get on board the Baidu Express. They went from an underweight rating to an overweight rating, slapping a $260 price target on the stock, up big from its prior $156 price target. With shares most recently closing at $220, this implies over 18% upside from current levels. Paypal Nails It — Big Earnings Beat, Guidance Raise and Baidu Deal Cantor Fitzgerald isn’t alone, though. Nomura analysts upgraded Baidu stock to a buy rating with a $241 price target. The analyst argues that new ad feeds should continue to accelerate revenue growth. Macquarie analyst Wendy Huang upgraded Baidu on its artificial intelligence efforts. She went from a neutral rating to outperform, raising her price target from $189 to $252, implying nearly 15% upside from current levels. Even though Nomura’s price target is the lowest of the three…

Link to Full Article: Baidu Shares to Stay Explosive, Thanks to Artificial Intelligence

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