Susquehanna raised the firm’s price target on Baidu (BIDU) to $120 from $110 and keeps a Neutral rating on the shares. The firm said Baidu is currently undergoing a transition from a legacy online marketing business to an AI-first company and is seeing significant growth from AI-related products. However, despite this strength, its legacy business declines have continued to more than offset this growth, though the company expects that to change over time.
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