Freedom Capital Markets Lifts Baidu (BIDU) Price Target, Maintains Buy Rating

Analyst Roman Lukianchikov discussed however Baidu delivered quarterly results that mostly surpassed expectations. The company’s ongoing transformation, which has had required higher superior expenditures, has begun yielding affirmative results contempt intensifying contention successful the company’s halfway business.

Even though elevated spending continues to unit margins, the steadfast is assured that scaling Baidu’s little profitable task whitethorn thrust a betterment successful profitability implicit the mean term.

“While margins whitethorn look further unit successful the coming quarters, palmy scaling of immoderate of the company’s little profitable initiatives could thrust a betterment successful profitability implicit the mean term. We contented a ‘Buy’ proposal and rise our people terms from $120 to $160.”

Baidu, Inc. (NASDAQ:BIDU) is simply a Chinese net elephantine and AI pioneer, known for its noteworthy investments successful artificial quality exertion and its presumption arsenic the ascendant hunt motor wrong the country.

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Disclosure: None.